Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Altimmune (ALT – Research Report), retaining the price target of $12.00.
Patrick Trucchio has given his Buy rating due to a combination of factors, primarily centered around the potential of Altimmune’s lead candidate, pemvidutide. The upcoming Phase 2b IMPACT trial results, expected in the second quarter of 2025, are anticipated to be a significant catalyst for the company. If successful, pemvidutide could become the first incretin-based therapy to show significant improvement in fibrosis within 24 weeks, which would distinguish it from existing treatments and highlight its blockbuster potential in treating metabolic dysfunction-associated steatohepatitis (MASH) and obesity.
Additionally, Altimmune’s strong financial position, with a cash runway extending into the second half of 2026, ensures that the company is well-funded to advance pemvidutide through the IMPACT trial and subsequent regulatory interactions. The trial’s focus on key differentiators, such as liver fat reduction and improvements in liver inflammation and fibrosis biomarkers, further supports the positive outlook. These factors, combined with the potential for meaningful anti-fibrotic changes and weight loss insights, underpin Trucchio’s confidence in the company’s future prospects and justify the Buy rating.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALT in relation to earlier this year.