Stifel Nicolaus Initiates Coverage on Altimmune (NASDAQ:ALT)

Equities researchers at Stifel Nicolaus started coverage on shares of Altimmune (NASDAQ:ALT) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 146.24% from the stock’s current price.

Several other analysts have also recently commented on ALT. UBS Group started coverage on shares of Altimmune in a report on Tuesday, November 12th. They set a “buy” rating and a $26.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.71.

Altimmune Stock Up 0.8 %

Shares of NASDAQ:ALT opened at $7.31 on Wednesday. The company’s fifty day moving average is $8.07 and its two-hundred day moving average is $7.20. The company has a market cap of $519.92 million, a P/E ratio of -4.72 and a beta of 0.22. Altimmune has a 12-month low of $5.28 and a 12-month high of $14.84.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period in the previous year, the firm posted ($0.39) earnings per share. Equities research analysts anticipate that Altimmune will post -1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Altimmune by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 243,808 shares of the company’s stock worth $1,621,000 after purchasing an additional 54,154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Altimmune by 190.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,688 shares of the company’s stock worth $98,000 after buying an additional 9,635 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Altimmune during the 2nd quarter worth about $70,000. Commonwealth Equity Services LLC boosted its stake in shares of Altimmune by 9.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 87,110 shares of the company’s stock worth $579,000 after acquiring an additional 7,165 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Altimmune by 25.8% during the 2nd quarter. Rhumbline Advisers now owns 107,446 shares of the company’s stock valued at $715,000 after acquiring an additional 22,034 shares during the last quarter. 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.