JonesTrading Initiates Coverage on Alterity Therapeutics (NASDAQ:ATHE)

Equities researchers at JonesTrading started coverage on shares of Alterity Therapeutics (NASDAQ:ATHE) in a report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. JonesTrading’s target price indicates a potential upside of 216.71% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ATHE. LADENBURG THALM/SH SH initiated coverage on Alterity Therapeutics in a research note on Tuesday, June 16th. They set a “buy” rating and a $10.00 price objective on the stock. Zacks Research upgraded shares of Alterity Therapeutics to a “hold” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Monday, April 20th. Three research 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. Based on data from MarketBeat.com, Alterity Therapeutics has a consensus rating of “Hold” and an average target price of $13.00.

Alterity Therapeutics Stock Performance

Shares of NASDAQ ATHE opened at $5.05 on Tuesday. The business has a 50-day moving average of $4.47 and a 200-day moving average of $3.76. Alterity Therapeutics has a fifty-two week low of $4.14 and a fifty-two week high of $350.00.

Institutional Investors Weigh In On Alterity Therapeutics

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

About Alterity Therapeutics

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.