Altimmune, Inc. (NASDAQ:ALT) Given Average Recommendation of “Buy” by Brokerages

Altimmune, Inc. (NASDAQ:ALT – Get Rating) has received an average rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $29.13.

Several brokerages have recently commented on ALT. The Goldman Sachs Group began coverage on Altimmune in a research report on Thursday, December 1st. They issued a “buy” rating and a $20.00 price objective on the stock. Evercore ISI boosted their price objective on Altimmune from $14.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Altimmune in a research report on Thursday, March 9th.

Altimmune Stock Performance

NASDAQ ALT opened at $11.01 on Friday. The company has a market capitalization of $542.57 million, a PE ratio of -6.22 and a beta of 0.11. The business’s fifty day moving average is $13.10 and its 200 day moving average is $12.89. Altimmune has a fifty-two week low of $3.83 and a fifty-two week high of $23.49.

Altimmune (NASDAQ:ALT – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.09. The company had revenue of ($0.11) million for the quarter, compared to the consensus estimate of $0.11 million. Altimmune had a negative return on equity of 44.02% and a negative net margin of 2,618.74%. On average, sell-side analysts forecast that Altimmune will post -1.94 EPS for the current year.

Insider Transactions at Altimmune

In other Altimmune news, Director Wayne Pisano sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $15.01, for a total transaction of $300,200.00. Following the sale, the director now directly owns 8,498 shares of the company’s stock, valued at $127,554.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On Altimmune

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Altimmune by 2,407.5% in the third quarter. State Street Corp now owns 3,398,856 shares of the company’s stock valued at $43,403,000 after purchasing an additional 3,263,310 shares during the period. Avidity Partners Management LP lifted its holdings in Altimmune by 48.7% during the fourth quarter. Avidity Partners Management LP now owns 3,990,000 shares of the company’s stock worth $65,636,000 after buying an additional 1,306,000 shares during the period. Driehaus Capital Management LLC purchased a new stake in Altimmune during the second quarter worth $10,999,000. Balyasny Asset Management LLC lifted its holdings in Altimmune by 402.6% during the third quarter. Balyasny Asset Management LLC now owns 1,037,662 shares of the company’s stock worth $13,251,000 after buying an additional 831,193 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Altimmune by 306.5% during the third quarter. Marshall Wace LLP now owns 1,098,914 shares of the company’s stock worth $14,034,000 after buying an additional 828,584 shares during the period. 93.69% of the stock is owned by institutional investors.

Altimmune Company Profile

(Get Rating)

Altimmune, Inc is a clinical stage biopharmaceutical company, which focuses on the development of novel peptide-based therapeutics for the treatment of obesity and liver diseases. The company’s lead product candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist that is being developed for the treatment of obesity and NASH.