Q2 2023 EPS Estimates for Altimmune, Inc. (NASDAQ:ALT) Lifted by HC Wainwright

Posted by Defense World Staff on May 18th, 2023

Altimmune, Inc. (NASDAQ:ALT – Get Rating) – Research analysts at HC Wainwright boosted their Q2 2023 earnings per share estimates for shares of Altimmune in a research note issued to investors on Monday, May 15th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn ($0.44) per share for the quarter, up from their previous estimate of ($0.48). HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Altimmune’s current full-year earnings is ($1.83) per share. HC Wainwright also issued estimates for Altimmune’s Q3 2023 earnings at ($0.48) EPS, Q4 2023 earnings at ($0.43) EPS, FY2023 earnings at ($1.74) EPS, FY2024 earnings at ($1.91) EPS, FY2025 earnings at ($1.82) EPS, FY2026 earnings at ($1.06) EPS and FY2027 earnings at $0.30 EPS.

ALT has been the topic of a number of other research reports. Evercore ISI raised their target price on Altimmune from $14.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, January 18th. The Goldman Sachs Group lowered Altimmune from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $6.00 in a report on Tuesday, March 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Altimmune in a report on Friday, March 31st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.14.

Altimmune Stock Performance

Shares of NASDAQ ALT opened at $4.60 on Wednesday. The firm has a market cap of $226.73 million, a price-to-earnings ratio of -2.66 and a beta of -0.08. The business’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $10.15. Altimmune has a 52 week low of $3.82 and a 52 week high of $23.49.

Altimmune (NASDAQ:ALT – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.09. Altimmune had a negative return on equity of 45.37% and a negative net margin of 2,618.74%. The company had revenue of ($0.11) million during the quarter, compared to the consensus estimate of $0.11 million.

Insider Transactions at Altimmune

In other news, Director David Drutz bought 9,000 shares of the company’s stock in a transaction dated Thursday, March 23rd. The stock was bought at an average price of $4.27 per share, for a total transaction of $38,430.00. Following the completion of the transaction, the director now directly owns 29,484 shares in the company, valued at approximately $125,896.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Matthew Scott Harris acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was acquired at an average cost of $4.22 per share, with a total value of $42,200.00. Following the completion of the purchase, the insider now directly owns 33,311 shares in the company, valued at $140,572.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Drutz acquired 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The shares were bought at an average cost of $4.27 per share, with a total value of $38,430.00. Following the completion of the purchase, the director now owns 29,484 shares of the company’s stock, valued at $125,896.68. The disclosure for this purchase can be found here. 3.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Altimmune by 65.8% during the first quarter. JPMorgan Chase & Co. now owns 307,589 shares of the company’s stock worth $1,873,000 after purchasing an additional 122,021 shares during the period. MetLife Investment Management LLC raised its position in shares of Altimmune by 65.5% during the first quarter. MetLife Investment Management LLC now owns 21,184 shares of the company’s stock worth $129,000 after purchasing an additional 8,385 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Altimmune during the first quarter worth about $1,108,000. Vanguard Group Inc. boosted its position in shares of Altimmune by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,816,915 shares of the company’s stock worth $11,065,000 after buying an additional 83,160 shares during the period. Finally, XTX Topco Ltd boosted its position in shares of Altimmune by 33.2% during the first quarter. XTX Topco Ltd now owns 19,665 shares of the company’s stock worth $120,000 after buying an additional 4,898 shares during the period. 93.69% of the stock is owned by institutional investors and hedge funds.

About Altimmune

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Altimmune, Inc is a clinical stage biopharmaceutical company, which focuses on the development of novel peptide-based therapeutics for the treatment of obesity and liver diseases. The company’s lead product candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist that is being developed for the treatment of obesity and NASH.