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

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

ATHE has been the subject of several research analyst reports. LADENBURG THALM/SH SH assumed coverage on shares of Alterity Therapeutics in a research report on Tuesday, June 16th. They issued a “buy” rating and a $10.00 target price for the company. UBS Group set a $12.00 price target on shares of Alterity Therapeutics in a research note on Tuesday, August 11th. JonesTrading initiated coverage on Alterity Therapeutics in a research report on Tuesday, June 30th. They set a “buy” rating and a $16.00 price objective on the stock. Craig Hallum set a $2.00 target price on Alterity Therapeutics in a report on Tuesday, August 11th. Finally, Zacks Research raised Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th.

Institutional Investors Weigh In On Alterity Therapeutics

A hedge fund recently raised its stake in Alterity Therapeutics stock. Greenleaf Trust boosted its position in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. Institutional investors own 2.14% of the company’s stock.

Alterity Therapeutics Price Performance

ATHE opened at $4.54 on Friday. The stock’s 50 day moving average price is $4.81 and its 200-day moving average price is $4.29. Alterity Therapeutics has a 52-week low of $2.66 and a 52-week high of $5.89.

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

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.