Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Altimmune (ALT – Research Report). The associated price target remains the same with $12.00.
Patrick Trucchio has given his Buy rating due to a combination of factors including the promising potential of Altimmune’s drug, pemvidutide. The recent R&D Day highlighted pemvidutide’s differentiation as a best-in-class therapy for metabolic dysfunction-associated steatohepatitis (MASH), obesity, and new indications such as alcohol use disorder (AUD) and alcohol liver disease (ALD). The upcoming Phase 2b trial results in 2025 are expected to further establish its efficacy, particularly in achieving fibrosis improvement, a significant milestone that sets it apart from existing therapies.
In addition to its potential in treating MASH, pemvidutide has shown impressive results in obesity management, with substantial weight loss and preservation of lean mass, outperforming existing GLP-1 receptor agonists. The drug’s dual mechanism enhances energy expenditure and fat metabolism, offering superior body composition changes. Furthermore, its cardiometabolic benefits, including significant liver fat and LDL cholesterol reductions, position pemvidutide as a versatile treatment option that could extend its use into cardiovascular risk reduction and fatty liver disease management. With a strong financial position and a year full of catalysts, Altimmune is well-positioned for growth, supporting the Buy rating.
In another report released on March 14, Evercore ISI also maintained a Buy rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 17 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.