HC Wainwright Reaffirms Buy Rating for Altimmune (NASDAQ:ALT)

Altimmune (NASDAQ:ALT)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 106.54% from the stock’s previous close.

Several other research firms have also recently issued reports on ALT. William Blair reissued a “market perform” rating on shares of Altimmune in a research note on Friday, March 14th. Stifel Nicolaus began coverage on Altimmune in a research note on Wednesday, January 8th. They set a “buy” rating and a $18.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.83.

Altimmune Stock Performance

NASDAQ:ALT opened at $5.81 on Tuesday. Altimmune has a one year low of $5.14 and a one year high of $11.16. The stock has a market cap of $447.45 million, a PE ratio of -3.75 and a beta of 0.87. The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $7.09.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.01. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.00 million. As a group, analysts predict that Altimmune will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Altimmune

In related news, CFO Gregory L. Weaver bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $52,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new position in Altimmune in the third quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new position in Altimmune in the fourth quarter valued at $45,000. Virtus ETF Advisers LLC purchased a new stake in Altimmune during the 4th quarter worth about $60,000. Cullen Frost Bankers Inc. purchased a new stake in Altimmune during the 4th quarter worth about $72,000. Finally, Sunbelt Securities Inc. lifted its holdings in Altimmune by 356.8% during the 4th quarter. Sunbelt Securities Inc. now owns 10,844 shares of the company’s stock worth $79,000 after buying an additional 8,470 shares during the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

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.