Athira Pharma, Inc. (NASDAQ:LONA) Receives $16.00 Average Target Price from Brokerages

Athira Pharma, Inc. (NASDAQ:LONA) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.00.

Several research firms have recently issued reports on LONA. Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a research report on Friday, August 7th. Wall Street Zen raised shares of Athira Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Piper Sandler started coverage on shares of Athira Pharma in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, Citizens Jmp upgraded shares of Athira Pharma from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday, July 30th.

Hedge Funds Weigh In On Athira Pharma

A number of large investors have recently made changes to their positions in the stock. Commodore Capital LP purchased a new stake in Athira Pharma during the 4th quarter worth about $3,515,000. Seven Fleet Capital Management LP bought a new position in Athira Pharma in the 4th quarter worth about $969,000. Spruce Street Capital LP bought a new position in Athira Pharma in the 4th quarter worth about $2,980,000. Perceptive Advisors LLC grew its holdings in Athira Pharma by 244.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,859,322 shares of the company’s stock valued at $14,075,000 after buying an additional 1,319,026 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Athira Pharma during the 4th quarter valued at about $2,456,000. 57.12% of the stock is owned by institutional investors.

Athira Pharma Stock Up 3.3%

Shares of NASDAQ:LONA opened at $7.87 on Monday. The firm has a market capitalization of $73.90 million, a PE ratio of -1.51 and a beta of 2.04. Athira Pharma has a twelve month low of $3.52 and a twelve month high of $14.21. The company has a 50-day moving average price of $8.28 and a two-hundred day moving average price of $8.16.

Athira Pharma Company Profile

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.