Athira Pharma (NASDAQ:LONA) Shares Up 4.4% – Here’s Why

Athira Pharma, Inc. (NASDAQ:LONA)’s share price traded up 4.4% during mid-day trading on Wednesday . The company traded as high as $8.23 and last traded at $8.23. 11,966 shares were traded during mid-day trading, a decline of 61% from the average session volume of 30,709 shares. The stock had previously closed at $7.88.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Athira Pharma to a “hold” rating in a research note on Friday, February 27th. Cantor Fitzgerald assumed coverage on shares of Athira Pharma in a research note on Thursday, February 26th. They issued an “overweight” rating on the stock. Piper Sandler assumed coverage on shares of Athira Pharma in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Athira Pharma in a research note on Monday, May 11th. Finally, Mizuho upgraded shares of Athira Pharma from a “neutral” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Athira Pharma Trading Up 4.4%

The firm has a market cap of $77.31 million, a PE ratio of -1.58 and a beta of 1.97. The stock has a 50 day moving average price of $9.34.

Athira Pharma (NASDAQ:LONA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.73) earnings per share for the quarter. Equities research analysts predict that Athira Pharma, Inc. will post -3.12 EPS for the current fiscal year.

Athira Pharma Company Profile

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.