Altimmune (NASDAQ:ALT) Upgraded at Zacks Investment Research

Altimmune (NASDAQ:ALTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage currently has a $5.50 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.78% from the stock’s previous close.

According to Zacks, “Altimmune, Inc. is a clinical-stage immunotherapeutics company. It focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of disease. The company’s proprietary platform technologies consist of RespirVec and Densigen. Altimmune Inc., formerly known as Pharmathene Inc., is based in Gaithersburg, United States. “

A number of other equities analysts have also weighed in on the company. Guggenheim lowered their price objective on Altimmune to $27.00 and set a “na” rating on the stock in a research note on Monday. Piper Sandler lowered their price objective on Altimmune from $34.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Altimmune in a research note on Tuesday. Finally, B. Riley decreased their price target on Altimmune from $27.00 to $21.00 in a research note on Monday, January 24th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Altimmune currently has an average rating of “Buy” and a consensus target price of $23.69.

Shares of ALT traded up $0.19 during trading hours on Friday, hitting $5.01. 33,167 shares of the stock were exchanged, compared to its average volume of 724,850. Altimmune has a 12-month low of $3.83 and a 12-month high of $19.46. The company has a market cap of $216.53 million, a price-to-earnings ratio of -2.07 and a beta of 1.45. The stock’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $7.60.

Altimmune (NASDAQ:ALTGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.13. Altimmune had a negative return on equity of 43.28% and a negative net margin of 2,819.11%. During the same quarter last year, the company earned ($0.38) EPS. On average, equities analysts forecast that Altimmune will post -1.92 earnings per share for the current year.

In related news, insider Matthew Scott Harris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $7.52, for a total value of $225,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.14% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in Altimmune by 2,082.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 476,805 shares of the company’s stock worth $5,393,000 after acquiring an additional 454,960 shares during the period. Braun Stacey Associates Inc. lifted its holdings in shares of Altimmune by 0.4% in the 3rd quarter. Braun Stacey Associates Inc. now owns 711,818 shares of the company’s stock valued at $8,050,000 after buying an additional 2,890 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Altimmune by 14.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,433 shares of the company’s stock valued at $242,000 after buying an additional 2,666 shares during the period. BlackRock Inc. lifted its holdings in shares of Altimmune by 15.0% in the 3rd quarter. BlackRock Inc. now owns 2,941,790 shares of the company’s stock valued at $33,272,000 after buying an additional 384,548 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Altimmune by 535.9% in the 3rd quarter. Voya Investment Management LLC now owns 81,353 shares of the company’s stock valued at $920,000 after buying an additional 68,560 shares during the period. 88.00% of the stock is owned by institutional investors.

About Altimmune (Get Rating)

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide (proposed INN, formerly known as ALT-801), is a GLP-1/glucagon dual receptor agonist that is in Phase 1b trial for the treatment of obesity and non-alcoholic steatohepatitis.

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