Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Altimmune (ALT – Research Report) and keeping the price target at $12.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight the promising future of Altimmune’s lead candidate, pemvidutide. The upcoming 24-week data from the IMPACT trial is expected to be a significant catalyst, potentially establishing pemvidutide as the first incretin-based therapy to achieve fibrosis improvement in metabolic dysfunction-associated steatohepatitis (MASH). This milestone, along with the expansion of pemvidutide into additional metabolic indications, underscores its broad market potential.
Furthermore, Altimmune’s strong financial position, with $132 million in cash, provides a solid runway to support ongoing and future trials, as well as key regulatory milestones. The anticipated success of the IMPACT trial could propel pemvidutide towards a Phase 3 program and open doors for partnerships, particularly in the obesity market. This potential for substantial shareholder value, coupled with the recent FDA clearance of two new investigational new drug applications, reinforces the Buy rating and the $12 price target for Altimmune.
In another report released on February 28, Evercore ISI also maintained a Buy rating on the stock with a $25.00 price target.