Q3 2024 EPS Estimates for Atea Pharmaceuticals, Inc. Increased by William Blair (NASDAQ:AVIR)

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) – Stock analysts at William Blair boosted their Q3 2024 earnings per share estimates for Atea Pharmaceuticals in a research report issued to clients and investors on Monday, September 16th. William Blair analyst A. Hsieh now anticipates that the company will earn ($0.43) per share for the quarter, up from their previous estimate of ($0.45). William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for Atea Pharmaceuticals’ current full-year earnings is ($2.55) per share. William Blair also issued estimates for Atea Pharmaceuticals’ Q4 2024 earnings at ($0.45) EPS, FY2024 earnings at ($2.11) EPS, Q1 2025 earnings at ($0.48) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.48) EPS and FY2025 earnings at ($1.92) EPS.

Separately, Morgan Stanley upgraded Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $2.00 to $6.88 in a research note on Tuesday, August 13th.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ AVIR opened at $3.99 on Wednesday. The business’s fifty day moving average price is $3.70 and its 200-day moving average price is $3.73. The stock has a market capitalization of $336.05 million, a PE ratio of -2.04 and a beta of 0.18. Atea Pharmaceuticals has a one year low of $2.77 and a one year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.28. During the same period in the prior year, the company posted ($0.34) EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunpointe LLC bought a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth $36,000. RPO LLC purchased a new stake in Atea Pharmaceuticals during the fourth quarter valued at $39,000. China Universal Asset Management Co. Ltd. increased its position in Atea Pharmaceuticals by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock valued at $65,000 after acquiring an additional 6,526 shares during the last quarter. Tidal Investments LLC bought a new stake in Atea Pharmaceuticals during the first quarter valued at about $87,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Atea Pharmaceuticals during the first quarter valued at about $123,000. Institutional investors own 86.67% of the company’s stock.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes antiviral therapeutics for patients with viral infections. Its lead product candidate is AT-527, an oral antiviral candidate that is in Phase 3 SUNRISE-3 clinical trial for the treatment of patients with COVID-19.