Altimmune (NASDAQ:ALT) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Altimmune (NASDAQ:ALT) released its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.02, Zacks reports. Altimmune had a negative return on equity of 44.77% and a negative net margin of 20,780.75%. The company had revenue of $0.01 million for the quarter. During the same quarter in the prior year, the firm earned ($0.40) earnings per share.

Altimmune Stock Performance

ALT traded down $0.50 during trading on Friday, hitting $7.22. 1,943,883 shares of the stock were exchanged, compared to its average volume of 5,074,627. The firm has a 50 day simple moving average of $8.69 and a 200 day simple moving average of $7.80. The firm has a market cap of $511.86 million, a price-to-earnings ratio of -4.41 and a beta of 0.22. Altimmune has a 1 year low of $2.09 and a 1 year high of $14.84.

Analyst Ratings Changes

ALT has been the topic of a number of research analyst reports. JMP Securities lowered their price target on Altimmune from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday. Guggenheim cut Altimmune from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th. HC Wainwright cut their target price on Altimmune from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, April 1st. B. Riley reissued a “buy” rating and set a $20.00 price target on shares of Altimmune in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group assumed coverage on Altimmune in a research note on Wednesday, January 24th. They set a “neutral” rating and a $13.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Altimmune has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

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.