Biotech firms Alterity, Abeona, and Ategrity see analyst rating shifts

Several biotechnology and specialty companies have recently seen shifts in analyst ratings and clinical developments.

Lake Street Capital upgraded Alterity Therapeutics to a ‘strong-buy’ rating. The company is currently preparing for a Phase 3 pivotal study for its oral drug candidate, ATH434, which targets neurodegenerative diseases like Multiple System Atrophy (MSA). Recent Phase 2 data indicated a slowing of disease progression in certain dosages.

Abeona Therapeutics received a ‘strong-buy’ upgrade from Roth Capital. However, the company’s recent quarterly earnings reported an EPS of ($0.35), missing the consensus estimate of ($0.23), with revenue of $11.38 million against an expected $12.24 million.

Ategrity Specialty has received a consensus ‘moderate buy’ rating from six analysts. Recent activity includes price target increases from JPMorgan Chase & Co. and Wells Fargo, though Zacks Research recently lowered its rating to ‘hold’.