B. Riley reiterates a Buy rating on Altimmune with a $20 price target following this weekend’s “impressive” full Phase IIb MOMENTUM safety and efficacy data disclosure. The firm says key attributes of pemvidutide’s glucagon-mediated differentiated activity stand out as among disease-state leading for obesity drugs. Riley notes no surprises to pemvidutide’s safety and tolerability profile, where it anticipates the ongoing Phase IIb IMPACT MASH 24-week liver biopsy study to further assuage investor concerns relating to gastrointestinal-related discontinuation rate within the MOMENTUM study. The analyst is also encouraged by Altimmune pursuing a short-titration regimen for Phase III obesity development aimed at further improving tolerability profile for top dose levels.
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