Alterity Therapeutics (NASDAQ:ATHE) Stock Jumps 0.8% – Still a Buy?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE)’s share price was up 0.8% during trading on Wednesday. The company traded as high as $2.62 and last traded at $2.39. Approximately 56,523 shares traded hands during trading, an increase of 107% from the average daily volume of 27,316 shares. The stock had previously closed at $2.37.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ATHE. Lake Street Capital started coverage on shares of Alterity Therapeutics in a research note on Tuesday, September 15th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings upgraded shares of Alterity Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 12th. UBS Group set a $12.00 price target on shares of Alterity Therapeutics in a research note on Tuesday, August 11th. JonesTrading started coverage on shares of Alterity Therapeutics in a report on Tuesday, June 30th. They set a “buy” rating and a $16.00 price target for the company. Finally, Craig Hallum set a $2.00 price target on shares of Alterity Therapeutics in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alterity Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Alterity Therapeutics Stock Up 0.8%

The company’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $4.30.

Alterity Therapeutics (NASDAQ:ATHE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter. The business had revenue of $0.31 million during the quarter. As a group, equities analysts anticipate that Alterity Therapeutics Limited – Sponsored ADR will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alterity Therapeutics

A hedge fund recently raised its position in Alterity Therapeutics stock. Greenleaf Trust boosted its holdings in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,000 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Greenleaf Trust owned approximately 0.70% of Alterity Therapeutics worth $333,000 as of its most recent filing with the Securities and Exchange Commission. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

Alterity Therapeutics Company Profile

Alterity Therapeutics Limited (NASDAQ: ATHE) is a clinical-stage biotechnology company focused on developing treatments for neurodegenerative diseases. The company’s research centers on protein misfolding and aggregation, biological processes associated with conditions such as multiple system atrophy (MSA) and Parkinson’s disease.

Alterity’s lead drug candidate is ATH434, an orally administered small molecule designed to inhibit the aggregation of alpha-synuclein, a protein implicated in several neurodegenerative disorders.