LADENBURG THALM/SH SH Initiates Coverage on Alterity Therapeutics (NASDAQ:ATHE)

Equities researchers at LADENBURG THALM/SH SH initiated coverage on shares of Alterity Therapeutics (NASDAQ:ATHE) in a research note issued on Tuesday. The firm set a “buy” rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH’s price target points to a potential upside of 125.99% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Alterity Therapeutics Stock Up 5.1%

ATHE traded up $0.22 during trading hours on Tuesday, hitting $4.43. The company’s stock had a trading volume of 952 shares, compared to its average volume of 1,173. Alterity Therapeutics has a fifty-two week low of $4.14 and a fifty-two week high of $350.00. The company has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $3.66.

Institutional Trading of Alterity Therapeutics

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