Athira Pharma (NASDAQ:LONA) Given New $17.00 Price Target at Citizens Jmp

Athira Pharma (NASDAQ:LONA) had its price objective cut by analysts at Citizens Jmp from $18.00 to $17.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 113.03% from the stock’s previous close.

A number of other research firms have also commented on LONA. Wall Street Zen raised Athira Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a report on Friday, August 7th. Finally, Piper Sandler started coverage on shares of Athira Pharma in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.67.

Athira Pharma Price Performance

Shares of Athira Pharma stock opened at $7.98 on Monday. The firm has a fifty day moving average price of $8.26 and a two-hundred day moving average price of $8.24. Athira Pharma has a fifty-two week low of $3.52 and a fifty-two week high of $14.21. The company has a market cap of $74.93 million, a PE ratio of -1.53 and a beta of 2.05.

Athira Pharma (NASDAQ:LONA) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.20). Analysts expect that Athira Pharma will post -3.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Athira Pharma

Institutional investors have recently modified their holdings of the stock. Commodore Capital LP acquired a new stake in shares of Athira Pharma in the 4th quarter valued at approximately $3,515,000. Seven Fleet Capital Management LP bought a new position in shares of Athira Pharma during the fourth quarter worth $969,000. Spruce Street Capital LP acquired a new position in shares of Athira Pharma in the 4th quarter valued at $2,980,000. Perceptive Advisors LLC increased its position in shares of Athira Pharma by 244.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,859,322 shares of the company’s stock valued at $14,075,000 after buying an additional 1,319,026 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Athira Pharma during the 4th quarter worth $2,456,000. 57.12% of the stock is currently owned by institutional investors and hedge funds.

About Athira Pharma

Athira Pharma, Inc is a clinical‐stage biopharmaceutical company headquartered in Seattle, Washington, that is dedicated to developing therapies aimed at restoring neuronal health and slowing the progression of neurodegenerative diseases. Founded in 2011, Athira’s research focuses on the Hepatocyte Growth Factor (HGF)/MET pathway as a novel mechanism to promote neuronal repair, synaptic function and overall cognitive performance. The company’s overarching goal is to offer disease‐modifying treatments for conditions such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease and amyotrophic lateral sclerosis (ALS).

The centerpiece of Athira’s pipeline is fosgonimeton (ATH‐1017), a small‐molecule positive modulator of the HGF/MET system.