Altimmune (NASDAQ:ALT) Receives Buy Rating from B. Riley

B. Riley reissued their buy rating on shares of Altimmune (NASDAQ:ALT) in a research report report published on Monday, Benzinga reports. B. Riley currently has a $20.00 price objective on the stock. B. Riley also issued estimates for Altimmune’s Q3 2024 earnings at ($0.41) EPS, Q4 2024 earnings at $3.02 EPS, FY2024 earnings at $1.96 EPS and FY2025 earnings at $0.69 EPS.

Several other brokerages have also recently weighed in on ALT. Piper Sandler reiterated an overweight rating and issued a $25.00 price objective on shares of Altimmune in a research note on Friday, June 21st. Guggenheim cut Altimmune from a buy rating to a neutral rating in a research note on Monday, April 29th. HC Wainwright reissued a buy rating and set a $12.00 price target on shares of Altimmune in a research report on Tuesday, May 14th. Finally, JMP Securities dropped their price objective on Altimmune from $25.00 to $24.00 and set a market outperform rating for the company in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Altimmune presently has an average rating of Moderate Buy and an average price target of $18.80.

Altimmune Stock Performance

Shares of NASDAQ:ALT opened at $6.24 on Monday. Altimmune has a 52-week low of $2.09 and a 52-week high of $14.84. The company has a market capitalization of $442.43 million, a P/E ratio of -3.92 and a beta of 0.13. The company has a 50-day simple moving average of $6.55 and a 200 day simple moving average of $8.00.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $0.01 million during the quarter. Altimmune had a negative net margin of 22,645.37% and a negative return on equity of 46.96%. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. As a group, equities analysts forecast that Altimmune will post -1.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALT. DekaBank Deutsche Girozentrale acquired a new stake in Altimmune in the fourth quarter valued at $534,000. Vontobel Holding Ltd. acquired a new position in shares of Altimmune in the fourth quarter worth approximately $234,000. Russell Investments Group Ltd. lifted its stake in shares of Altimmune by 1,150.9% in the fourth quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock worth $48,000 after acquiring an additional 3,959 shares during the period. Deuterium Capital Management LLC bought a new stake in Altimmune in the fourth quarter valued at approximately $112,000. Finally, Jump Financial LLC acquired a new stake in Altimmune during the 4th quarter valued at approximately $120,000. Institutional investors own 78.05% of the company’s stock.

Altimmune Company Profile

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.