Altimmune, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on the stock and has a $12.00 price target.
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Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Altimmune’s promising developments with pemvidutide. The management has emphasized the significance of upcoming milestones, such as the 48-week data from the Phase 2b IMPACT trial and the End-of-Phase 2 meeting, which are crucial for shaping the Phase 3 path in MASH. These milestones are expected to provide clarity on the drug’s potential, particularly through non-invasive test results and weight-loss data.
Additionally, the management’s confidence in pemvidutide’s tolerability, marked by a low rate of adverse event-related discontinuations, supports the positive outlook. The dual GLP-1/glucagon mechanism of pemvidutide is highlighted as a key advantage, offering enhanced fat metabolism and favorable body composition changes. This mechanism, along with the drug’s broader potential in alcohol-related disorders, underpins Trucchio’s positive assessment and the reiterated $12 price target for Altimmune’s stock.