HC Wainwright Weighs in on Altimmune, Inc.’s Q2 2024 Earnings (NASDAQ:ALT)

Altimmune, Inc. (NASDAQ:ALT) – Investment analysts at HC Wainwright upped their Q2 2024 earnings per share estimates for shares of Altimmune in a research report issued to clients and investors on Tuesday, May 14th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings of ($0.28) per share for the quarter, up from their prior forecast of ($0.35). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Altimmune’s current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Altimmune’s Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.32) EPS.

A number of other research firms also recently weighed in on ALT. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Altimmune in a research report on Thursday, March 28th. JMP Securities decreased 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. Guggenheim lowered shares of Altimmune from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th. Finally, The Goldman Sachs Group began coverage on shares of Altimmune in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $13.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Altimmune Stock Performance

NASDAQ ALT opened at $8.90 on Thursday. The company has a market capitalization of $631.03 million, a PE ratio of -5.60 and a beta of 0.22. Altimmune has a 52-week low of $2.09 and a 52-week high of $14.84. The company has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $8.00.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. The firm had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 46.96% and a negative net margin of 22,645.37%. During the same quarter last year, the company earned ($0.40) EPS.

Hedge Funds Weigh In On Altimmune

Several hedge funds have recently bought and sold shares of the company. Timelo Investment Management Inc. grew its holdings in shares of Altimmune by 2,597.0% during the fourth quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company’s stock worth $9,102,000 after purchasing an additional 779,095 shares in the last quarter. Knoll Capital Management LLC increased its stake in Altimmune by 183.6% in the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock valued at $5,774,000 after acquiring an additional 367,219 shares during the last quarter. GSA Capital Partners LLP raised its position in Altimmune by 153.1% during the third quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock valued at $1,159,000 after purchasing an additional 269,676 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Altimmune during the fourth quarter worth about $4,493,000. Finally, Gerber LLC boosted its holdings in shares of Altimmune by 10.2% in the 1st quarter. Gerber LLC now owns 281,778 shares of the company’s stock worth $2,868,000 after purchasing an additional 26,000 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

About Altimmune

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.