Alterity Therapeutics (NASDAQ:ATHE) Shares Climb 0.8% – Still a Buy?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) rose 0.8% on Wednesday. The stock traded as high as $2.62 and last traded at $2.39. Approximately 56,523 shares traded hands during mid-day trading, an increase of 107% from the average session volume of 27,316 shares. The stock had previously closed at $2.37.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings upgraded Alterity Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 12th. Craig Hallum set a $2.00 target price on Alterity Therapeutics in a report on Tuesday, August 11th. JonesTrading initiated coverage on Alterity Therapeutics in a research report on Tuesday, June 30th. They issued a “buy” rating and a $16.00 price target for the company. Lake Street Capital initiated coverage on Alterity Therapeutics in a research note on Tuesday, September 15th. They set a “buy” rating and a $10.00 price target for the company. Finally, UBS Group set a $12.00 price target on Alterity Therapeutics in a research note on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Alterity Therapeutics Price Performance

The firm’s fifty day simple moving average is $3.84 and its 200-day simple moving average is $4.30.

Alterity Therapeutics (NASDAQ:ATHE) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter. The firm had revenue of $0.31 million for the quarter. As a group, equities research analysts expect that Alterity Therapeutics Limited – Sponsored ADR will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Alterity Therapeutics

An institutional investor recently raised its stake in Alterity Therapeutics stock. Greenleaf Trust raised its stake in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,000 shares of the company’s stock after acquiring an additional 30,000 shares during the quarter. Greenleaf Trust owned approximately 0.70% of Alterity Therapeutics worth $333,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.14% of the company’s stock.

About Alterity Therapeutics

Alterity Therapeutics Limited (NASDAQ: ATHE) is a clinical-stage biotechnology company focused on developing treatments for neurodegenerative diseases. The company’s research centers on protein misfolding and aggregation, biological processes associated with conditions such as multiple system atrophy (MSA) and Parkinson’s disease.

Alterity’s lead drug candidate is ATH434, an orally administered small molecule designed to inhibit the aggregation of alpha-synuclein, a protein implicated in several neurodegenerative disorders.