What is B. Riley’s Forecast for Altimmune FY2024 Earnings?

Altimmune, Inc. (NASDAQ:ALT) – Equities research analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Altimmune in a note issued to investors on Wednesday, November 13th. B. Riley analyst M. Mamtani now expects that the company will earn ($1.40) per share for the year, down from their previous forecast of $1.96. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Altimmune’s current full-year earnings is ($0.54) per share. B. Riley also issued estimates for Altimmune’s Q4 2024 earnings at ($0.39) EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at ($0.54) EPS and Q4 2025 earnings at ($0.64) EPS.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. During the same quarter in the prior year, the firm earned ($0.39) EPS.

Other analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research note on Thursday. Evercore ISI raised Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. Finally, UBS Group started coverage on Altimmune in a research note on Tuesday. They issued a “buy” rating and a $26.00 target price for the company. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Price Performance

Altimmune stock opened at $7.61 on Friday. The business has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $6.91. Altimmune has a one year low of $2.34 and a one year high of $14.84. The company has a market capitalization of $541.22 million, a PE ratio of -4.91 and a beta of 0.09.

Hedge Funds Weigh In On Altimmune

Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank acquired a new stake in shares of Altimmune during the first quarter worth $1,079,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Altimmune in the 1st quarter valued at about $271,000. Sei Investments Co. bought a new stake in shares of Altimmune in the first quarter valued at about $479,000. SG Americas Securities LLC boosted its position in shares of Altimmune by 542.8% during the second quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock worth $1,693,000 after buying an additional 214,968 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Altimmune by 142.9% during the second quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after buying an additional 335,444 shares in the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.

Insider Buying and Selling at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the completion of the sale, the director now owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This represents a 27.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

About Altimmune

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.