UPDATE: Mizuho Securities Starts Athira Pharma (ATHA) at Buy

July 6, 2022 4:05 PM EDT
Get Alerts ATHA Hot Sheet
Price: $3.13 -0.95%

Rating Summary:
    2 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 9 | New: 24
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(Updated - July 6, 2022 4:07 PM EDT)

Mizuho Securities analyst Graig Suvannavejh initiates coverage on Athira Pharma (NASDAQ: ATHA) with a Buy rating and a price target of $6.00.

The analyst comments "We initiate on ATHA at Buy/$6 (implies 75% upside). On the heels of recent data for lead asset fosgonimeton (fosgo) in Alzheimer's that led a significant stock re-rating, we see an opportunity (and a potentially mis-priced stock). While the headlines came across negatively, upon a closer look, we still see reasons to remain hopeful. More importantly, a larger (and more definitive) Phase 2/3 study for fosgo reads out in 2023, and assuming clinical development execution, we believe that positive data could ultimately result. Our call is contrarian (and yes, fosgo could end up being a zero), but with ATHA's current cash picture (~$6.50/share; runway into 2024) providing a backstop, we like the risk/reward here."

For an analyst ratings summary and ratings history on Athira Pharma click here. For more ratings news on Athira Pharma click here.

Shares of Athira Pharma closed at $3.43 yesterday.

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