Athira Pharma (NASDAQ:LONA) Raised to “Outperform” at Citizens Jmp

Athira Pharma (NASDAQ:LONA) was upgraded by Citizens Jmp from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm presently has a $18.00 target price on the stock. Citizens Jmp’s price target would suggest a potential upside of 155.68% from the company’s previous close.

Other analysts have also issued research reports about the company. Piper Sandler assumed coverage on Athira Pharma in a report on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Athira Pharma in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Athira Pharma has an average rating of “Moderate Buy” and an average price target of $16.00.

Athira Pharma Price Performance

Shares of NASDAQ:LONA opened at $7.04 on Thursday. The stock has a market cap of $66.11 million, a price-to-earnings ratio of -1.35 and a beta of 2.01. Athira Pharma has a 12 month low of $3.24 and a 12 month high of $14.21. The stock’s 50 day moving average price is $8.56 and its 200 day moving average price is $8.06.

Athira Pharma (NASDAQ:LONA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.73) earnings per share (EPS) for the quarter. On average, sell-side analysts expect that Athira Pharma will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LONA. Focus Partners Wealth purchased a new stake in shares of Athira Pharma in the 3rd quarter valued at approximately $35,000. Jane Street Group LLC acquired a new position in Athira Pharma during the fourth quarter valued at $100,000. Renaissance Technologies LLC lifted its stake in Athira Pharma by 44.7% in the 4th quarter. Renaissance Technologies LLC now owns 75,147 shares of the company’s stock worth $569,000 after acquiring an additional 23,223 shares in the last quarter. Seven Fleet Capital Management LP acquired a new stake in Athira Pharma during the 4th quarter worth about $969,000. Finally, Millennium Management LLC acquired a new stake in Athira Pharma during the 4th quarter worth about $2,456,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

About Athira Pharma

Athira Pharma, Inc is a clinical‐stage biopharmaceutical company headquartered in Seattle, Washington, that is dedicated to developing therapies aimed at restoring neuronal health and slowing the progression of neurodegenerative diseases. Founded in 2011, Athira’s research focuses on the Hepatocyte Growth Factor (HGF)/MET pathway as a novel mechanism to promote neuronal repair, synaptic function and overall cognitive performance. The company’s overarching goal is to offer disease‐modifying treatments for conditions such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease and amyotrophic lateral sclerosis (ALS).

The centerpiece of Athira’s pipeline is fosgonimeton (ATH‐1017), a small‐molecule positive modulator of the HGF/MET system.