BTIG Research Initiates Coverage on Athira Pharma (NASDAQ:ATHA)

BTIG Research assumed coverage on shares of Athira Pharma (NASDAQ:ATHAGet Rating) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $33.00 target price on the stock.

ATHA has been the subject of several other reports. JMP Securities reissued a buy rating and issued a $51.00 price objective on shares of Athira Pharma in a report on Friday, March 25th. Berenberg Bank initiated coverage on Athira Pharma in a report on Thursday, April 21st. They issued a buy rating and a $33.00 price objective for the company. Finally, Zacks Investment Research downgraded Athira Pharma from a buy rating to a hold rating in a report on Friday, April 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Athira Pharma has an average rating of Buy and a consensus target price of $29.40.

Shares of ATHA opened at $8.28 on Tuesday. The stock has a 50 day moving average price of $11.01 and a 200 day moving average price of $11.72. The company has a market capitalization of $311.53 million, a price-to-earnings ratio of -5.83 and a beta of 3.25. Athira Pharma has a 52-week low of $7.56 and a 52-week high of $23.64.

Athira Pharma (NASDAQ:ATHAGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). On average, equities research analysts predict that Athira Pharma will post -2.66 EPS for the current fiscal year.

In related news, Director Kelly A. Romano purchased 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The stock was purchased at an average cost of $13.11 per share, with a total value of $104,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ATHA. Morgan Stanley lifted its holdings in Athira Pharma by 30.4% in the first quarter. Morgan Stanley now owns 22,445 shares of the company’s stock valued at $413,000 after acquiring an additional 5,230 shares during the period. Bank of America Corp DE lifted its holdings in Athira Pharma by 56.3% in the second quarter. Bank of America Corp DE now owns 16,749 shares of the company’s stock valued at $172,000 after acquiring an additional 6,036 shares during the period. SG Americas Securities LLC acquired a new stake in Athira Pharma in the third quarter valued at $182,000. Deutsche Bank AG lifted its holdings in Athira Pharma by 67.1% in the third quarter. Deutsche Bank AG now owns 38,480 shares of the company’s stock valued at $361,000 after acquiring an additional 15,449 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Athira Pharma in the third quarter valued at $1,265,000. 69.76% of the stock is owned by institutional investors.

About Athira Pharma (Get Rating)

Athira Pharma, Inc, a late clinical-stage biopharmaceutical company, focuses on developing small molecules to restore neuronal health and stop neurodegradation. Its lead product candidate is ATH-1017, a blood brain barrier-penetrating, small hepatocyte growth factor/MET activator that is in LIFT-AD Phase II/III and ACT-AD Phase II clinical trials for the treatment of mild-to-moderate Alzheimer's disease, as well as in clinical development for Parkinson's disease.

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