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

Shares of Altimmune, Inc. (NASDAQ:ALT – Get Rating) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.13.

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

Altimmune Stock Up 0.5 %

NASDAQ:ALT opened at $11.01 on Friday. Altimmune has a 12 month low of $3.83 and a 12 month high of $23.49. The firm has a market cap of $542.57 million, a price-to-earnings ratio of -6.22 and a beta of 0.11. The company’s 50 day moving average is $13.10 and its 200-day moving average is $12.89.

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

Insider Transactions at Altimmune

In other Altimmune news, Director Wayne Pisano sold 20,000 shares of Altimmune stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $15.01, for a total value of $300,200.00. Following the completion of the sale, the director now directly owns 8,498 shares in the company, valued at $127,554.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new stake in shares of Altimmune in the first quarter valued at $63,000. Engineers Gate Manager LP bought a new position in Altimmune in the 1st quarter worth about $87,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Altimmune during the 1st quarter valued at about $106,000. XTX Topco Ltd raised its holdings in shares of Altimmune by 33.2% during the 1st quarter. XTX Topco Ltd now owns 19,665 shares of the company’s stock valued at $120,000 after buying an additional 4,898 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Altimmune by 65.5% during the 1st quarter. MetLife Investment Management LLC now owns 21,184 shares of the company’s stock valued at $129,000 after buying an additional 8,385 shares in the last quarter. Hedge funds and other institutional investors own 93.69% of the company’s stock.

About Altimmune

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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.