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

Lake Street Capital upgraded shares of Alterity Therapeutics (NASDAQ:ATHE) to a strong-buy rating in a report published on Tuesday,Zacks reports.

Several other analysts have also recently issued reports on ATHE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alterity Therapeutics in a report on Friday, July 17th. Zacks Research raised Alterity Therapeutics to a “hold” rating in a research note on Wednesday, June 17th. UBS Group set a $12.00 target price on shares of Alterity Therapeutics in a report on Tuesday, August 11th. JonesTrading began coverage on Alterity Therapeutics in a report on Tuesday, June 30th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Craig Hallum set a $2.00 price target on shares of Alterity Therapeutics in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Alterity Therapeutics Price Performance

ATHE opened at $3.73 on Tuesday. The firm has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.33. Alterity Therapeutics has a 52 week low of $2.66 and a 52 week high of $5.89.

Alterity Therapeutics (NASDAQ:ATHE) last issued its earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $0.31 million during the quarter. As a group, equities research analysts anticipate that Alterity Therapeutics will post -0.12 EPS 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 grew its position in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% during the 2nd quarter, according to its most recent Form 13F filing 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 about 0.70% of Alterity Therapeutics worth $333,000 at the end of the most recent reporting period. Institutional investors own 2.14% of the company’s stock.

Alterity Therapeutics Company Profile

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.