Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.00.

A number of research firms recently weighed in on ATHE. UBS Group set a $12.00 price objective on Alterity Therapeutics in a research report on Tuesday, August 11th. JonesTrading began coverage on Alterity Therapeutics in a report on Tuesday, June 30th. They issued a “buy” rating and a $16.00 target price on the stock. Craig Hallum set a $2.00 target price on Alterity Therapeutics in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH assumed coverage on Alterity Therapeutics in a report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alterity Therapeutics in a research report on Friday, July 17th.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Alterity Therapeutics stock. Greenleaf Trust lifted its position in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Greenleaf Trust owned about 0.70% of Alterity Therapeutics worth $333,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.14% of the company’s stock.

Alterity Therapeutics Stock Performance

Shares of ATHE opened at $4.54 on Friday. Alterity Therapeutics has a fifty-two week low of $2.66 and a fifty-two week high of $5.89. The firm’s 50-day simple moving average is $4.81 and its two-hundred day simple moving average is $4.29.

Alterity Therapeutics (NASDAQ:ATHE) last released its earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $0.31 million for the quarter. As a group, equities analysts expect that Alterity Therapeutics will post -0.12 earnings per share for the current fiscal year.

About Alterity Therapeutics

Alterity Therapeutics is a clinical-stage biotechnology company focused on the development of novel treatments for neurological and neurodegenerative disorders. The company’s research portfolio centers on small molecules designed to target underlying disease mechanisms, with an emphasis on improving synaptic function and mitigating neuroinflammation.

Among its lead assets is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1, which is being investigated for the treatment of Rett syndrome and Fragile X syndrome in ongoing clinical trials.