Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $12.6667.

ATHE has been the subject of several research analyst reports. JonesTrading assumed coverage on Alterity Therapeutics in a research report on Tuesday, June 30th. They issued a “buy” rating and a $16.00 price objective for the company. LADENBURG THALM/SH SH started coverage on shares of Alterity Therapeutics in a research report on Tuesday, June 16th. They set a “buy” rating and a $10.00 target price on the stock. Zacks Research raised shares of Alterity Therapeutics to a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alterity Therapeutics in a report on Friday, July 17th. Finally, Craig Hallum started coverage on shares of Alterity Therapeutics in a report on Tuesday. They issued a “buy” rating and a $12.00 price target for the company.

Alterity Therapeutics Price Performance

ATHE opened at $4.58 on Tuesday. Alterity Therapeutics has a 12 month low of $2.66 and a 12 month high of $5.89. The business has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $4.13.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC bought a new stake in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned approximately 0.25% of Alterity Therapeutics at the end of the most recent quarter. 2.14% of the stock is owned by institutional investors and hedge funds.

Alterity Therapeutics Company Profile

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.