Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Altimmune. The associated price target remains the same with $12.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including the advancement of Altimmune’s pemvidutide towards Phase 3 trials in metabolic dysfunction-associated steatohepatitis (MASH). The upcoming 48-week data from the Phase 2b IMPACT trial and the end-of-Phase 2 meeting in the fourth quarter of 2025 are expected to significantly reduce risks and clarify the path forward for the drug’s development. Additionally, Altimmune’s recent updates have highlighted the drug’s differentiated tolerability without the need for titration, as well as its clinically meaningful effects on non-invasive tests, which are crucial for the upcoming Phase 3 design discussions with regulators.
Furthermore, the appointment of Jerry Durso as Chair, who has prior experience as CEO of Intercept Pharmaceuticals, is seen as aligning with Altimmune’s transition into late-stage development. The 48-week IMPACT readout is anticipated to be a major event that will inform decisions on Phase 3 trial parameters such as powering, duration, and endpoint hierarchy. The promising 24-week data, which showed significant MASH resolution and a robust safety profile, supports the potential of pemvidutide to achieve peak annual revenues exceeding $1 billion if approved.
According to TipRanks, Trucchio is a 4-star analyst with an average return of 4.4% and a 37.32% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Oncolytics Biotech, and Sangamo Biosciences.
In another report released today, UBS also maintained a Buy rating on the stock with a $24.00 price target.