Roger Song, an analyst from Jefferies, maintained the Buy rating on Altimmune (ALT – Research Report). The associated price target remains the same with $28.00.
Roger Song has given his Buy rating due to a combination of factors surrounding Altimmune’s promising developments in their research and development pipeline. The company recently held an R&D Day where they discussed their upcoming Phase 2b data for MASH, as well as two new indications for their drug pemvi: Alcohol Use Disorder (AUD) and Alcohol Liver Disease (ALD). These new indications are supported by preclinical data and present significant market opportunities.
Song believes that the upcoming MASH data, expected in the second quarter, could show significant improvements in fibrosis and MASH resolution, potentially positioning pemvi as the first incretin to achieve such results at an early stage. Additionally, the drug’s potential for weight loss benefits adds to its attractiveness. The unmet needs in the AUD and ALD markets, combined with the strategic design of the upcoming Phase 2 trials, further bolster the potential for pemvi to drive significant upside for Altimmune.
Song covers the Healthcare sector, focusing on stocks such as Altimmune, United Therapeutics, and TG Therapeutics. According to TipRanks, Song has an average return of -21.8% and a 23.66% success rate on recommended stocks.
In another report released on March 14, Evercore ISI also maintained a Buy rating on the stock with a $25.00 price target.