William Blair analyst Andy Hsieh has reiterated their neutral stance on ALT stock, giving a Hold rating yesterday.
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Andy Hsieh has given his Hold rating due to a combination of factors surrounding Altimmune’s current developments and financial maneuvers. The company has made progress in its clinical trials, particularly with the Phase II RECLAIM trial for pemvidutide in alcohol use disorder, which completed enrollment ahead of schedule. Additionally, the initiation of the Phase II RESTORE trial for alcohol-associated liver disease indicates ongoing research and development efforts.
However, despite these advancements, there are financial considerations that temper enthusiasm. Altimmune has amended its debt facility with Hercules Capital, increasing its size and extending the interest-only period, which suggests a need for additional financial resources. Moreover, the company is in a transitional phase with new leadership appointments, which may introduce uncertainties. These elements collectively contribute to a cautious outlook, justifying the Hold rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.00 price target.