Athira Pharma (NASDAQ:LONA) Earns Overweight Rating from Analysts at Piper Sandler

Equities researchers at Piper Sandler started coverage on shares of Athira Pharma (NASDAQ:LONA) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $20.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 106.83% from the stock’s current price.

A number of other research firms have also commented on LONA. Mizuho upgraded shares of Athira Pharma from a “neutral” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Thursday, February 19th. Zacks Research upgraded shares of Athira Pharma to a “hold” rating in a research note on Friday, February 27th. Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Athira Pharma in a report on Monday, May 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Athira Pharma in a research report on Thursday, February 26th. They issued an “overweight” rating on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.00.

Athira Pharma Stock Down 6.4%

NASDAQ LONA opened at $9.67 on Wednesday. Athira Pharma has a 12 month low of $2.64 and a 12 month high of $14.21. The firm has a market capitalization of $90.80 million, a price-to-earnings ratio of -1.86 and a beta of 1.98. The company’s 50 day moving average is $9.72.

Athira Pharma (NASDAQ:LONA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.73) EPS for the quarter. Analysts forecast that Athira Pharma will post -3.75 EPS for the current year.

Insider Transactions at Athira Pharma

In other Athira Pharma news, CEO Mark James Litton sold 5,156 shares of Athira Pharma stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $5.37, for a total value of $27,687.72. Following the transaction, the chief executive officer owned 57,926 shares in the company, valued at approximately $311,062.62. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 9,110 shares of company stock valued at $48,921 in the last quarter. Insiders own 25.73% of the company’s stock.

About Athira Pharma

Athira Pharma, traded as LONA on the NASDAQ, is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule therapeutics intended to restore neuronal health and function in neurodegenerative and cognitive disorders. The company’s research approach centers on modulating pathways involved in synaptic repair and neurotrophic signaling to address underlying neuronal dysfunction rather than solely treating symptoms.

Athira’s lead investigational therapy is fosgonimeton (ATH-1017), a small-molecule candidate designed to potentiate hepatocyte growth factor (HGF)/MET pathway signaling with the aim of improving synaptic connectivity and cognitive performance in patients with conditions such as Alzheimer’s disease and related cognitive impairments.