Analyst Annabel Samimy of Stifel Nicolaus maintained a Buy rating on Altimmune (ALT – Research Report), retaining the price target of $18.00.
Annabel Samimy’s rating is based on Altimmune’s strategic focus on addressing obesity-related MASH through its innovative GCG-based approach. The company’s lead candidate, pemvidutide, is positioned at the intersection of obesity and MASH, offering potential benefits such as weight loss, reduction in serum inflammatory lipids, and liver fat reduction. This makes it a promising treatment for patients with these comorbid conditions.
Altimmune is on the verge of a critical Phase 2b readout for MASH, expected in the second quarter of 2025. Success in this trial could validate pemvidutide’s ability to directly target liver issues while promoting weight loss, which would be a significant advancement in treating MASH. Additionally, the company is financially prepared, with sufficient cash reserves to support ongoing trials and new initiatives, enhancing its potential for future growth and success.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $25.00 price target.