Alterity Therapeutics (NASDAQ:ATHE) Rating Increased to Strong-Buy at Lake Street Capital

Alterity Therapeutics (NASDAQ:ATHE) was upgraded by research analysts at Lake Street Capital to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other research firms have also recently commented on ATHE. UBS Group set a $12.00 target price on shares of Alterity Therapeutics in a research note on Tuesday, August 11th. Craig Hallum set a $2.00 price objective 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 issued a “buy” rating and a $16.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Friday, July 17th. Finally, LADENBURG THALM/SH SH assumed coverage on Alterity Therapeutics in a research report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Alterity Therapeutics Trading Up 6.7%

NASDAQ:ATHE opened at $3.73 on Tuesday. Alterity Therapeutics has a twelve month low of $2.66 and a twelve month high of $5.89. The stock has a fifty day simple moving average of $4.60 and a 200-day simple moving average of $4.33.

Alterity Therapeutics (NASDAQ:ATHE) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) EPS for the quarter. The firm had revenue of $0.31 million during the quarter. Research analysts forecast that Alterity Therapeutics will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alterity Therapeutics

A hedge fund recently raised its position in Alterity Therapeutics stock. Greenleaf Trust increased its position in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% during the second quarter, according to 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 0.70% of Alterity Therapeutics worth $333,000 as of its most recent filing with the SEC. Institutional investors own 2.14% of the company’s stock.

About Alterity Therapeutics

Alterity Therapeutics Limited (NASDAQ: ATHE) is an Australia-based clinical-stage biotechnology company developing treatments for neurodegenerative diseases. Its research focuses on abnormal protein misfolding and aggregation, biological processes associated with disorders such as multiple system atrophy and Parkinson’s disease.

The company’s lead drug candidate, ATH-434, is an orally administered small molecule designed to cross the blood-brain barrier and inhibit the aggregation of alpha-synuclein, a protein implicated in several neurodegenerative conditions.