Alterity Therapeutics (NASDAQ:ATHE) Coverage Initiated at Craig Hallum

Craig Hallum started coverage on shares of Alterity Therapeutics (NASDAQ:ATHE) in a research note issued on Tuesday. The firm set a “buy” rating and a $12.00 price target on the stock. Craig Hallum’s price objective would suggest a potential upside of 161.84% from the stock’s previous close.

Several other research firms also recently commented on ATHE. Zacks Research raised shares of Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. LADENBURG THALM/SH SH assumed coverage on Alterity Therapeutics in a research report on Tuesday, June 16th. They issued a “buy” rating and a $10.00 price target for the company. JonesTrading assumed coverage on Alterity Therapeutics in a research note on Tuesday, June 30th. They set a “buy” rating and a $16.00 price target for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alterity Therapeutics in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alterity Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Alterity Therapeutics Stock Performance

Alterity Therapeutics stock opened at $4.58 on Tuesday. The firm’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $4.13. Alterity Therapeutics has a 1-year low of $2.66 and a 1-year high of $5.89.

Hedge Funds Weigh In On Alterity Therapeutics

A hedge fund recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC bought a new stake in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 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 SEC filing. 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.