Buy Rating Affirmed on Athira Pharma Amid Promising Alzheimer’s Drug Developments and Strategic Advancements

Mizuho Securities analyst Graig Suvannavejh maintained a Buy rating on Athira Pharma (ATHA – Research Report) on May 16 and set a price target of $5.00.

Graig Suvannavejh’s rating is based on multiple promising developments within Athira Pharma, particularly the anticipated results from their Phase 2/3 LIFT-AD study for fosgonimeton (fosgo), which treats Alzheimer’s disease. The company has also taken strides in advancing their pipeline by filing an IND for ATH-1105 for ALS, set to commence human studies soon, and by appointing a new Chief Medical Officer, which suggests a strengthened leadership team.
Furthermore, Suvannavejh sees the upcoming release of the LIFT-AD study data as a significant catalyst for the company, potentially driving stock value upward. He is optimistic about the innovative trial design and the potential for the drug to show meaningful improvement in cognitive and functional measures in Alzheimer’s patients. The combination of these factors, along with what is considered to be an attractive valuation of Athira Pharma’s stock, supports his recommendation to maintain a Buy rating.

According to TipRanks, Suvannavejh is an analyst with an average return of -10.6% and a 36.04% success rate. Suvannavejh covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Immuneering, and Amylyx Pharmaceuticals Inc.

In another report released on May 16, JMP Securities also reiterated a Buy rating on the stock with a $19.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Athira Pharma (ATHA) Company Description:

Athira Pharma Inc is a bio-technology company focused on developing small molecules to restore neuronal health and stop neurodegeneration. The company is developing treatments for Alzheimer’s disease and Parkinson’s disease.