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

Piper Sandler started coverage on shares of Athira Pharma (NASDAQ:LONA) in a report released on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $20.00 price target on the stock. Piper Sandler’s target price would indicate a potential upside of 106.83% from the company’s current price.

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

Athira Pharma Stock Down 6.4%

Athira Pharma stock opened at $9.67 on Wednesday. The business has a 50 day moving average price of $9.72. Athira Pharma has a 52 week low of $2.64 and a 52 week high of $14.21. The firm has a market cap of $90.80 million, a price-to-earnings ratio of -1.86 and a beta of 1.98.

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

Insider Activity

In other Athira Pharma news, CEO Mark James Litton sold 5,156 shares of Athira Pharma stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $5.37, for a total transaction of $27,687.72. Following the completion of the sale, the chief executive officer owned 57,926 shares of the company’s stock, valued at $311,062.62. This trade represents a 8.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 9,110 shares of company stock worth $48,921. Company 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.