William Blair analyst Andy Hsieh has reiterated their neutral stance on ALT stock, giving a Hold rating on July 30.
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Andy Hsieh has given his Hold rating due to a combination of factors surrounding Altimmune’s current position and future prospects. The recent Phase IIb IMPACT trial results for pemvidutide in treating metabolic dysfunction-associated steatohepatitis (MASH) showed significant reductions in cT1 relaxation time, but the drug’s differentiation in the competitive MASH market remains unclear.
While the company is advancing with an oral formulation of pemvidutide that may offer benefits in terms of bioavailability and avoiding food restrictions, the lack of a clear fibrosis benefit and reliance on non-invasive tests pose challenges. The upcoming FDA meeting and further analyses could provide more clarity, but the initiation of a Phase III trial and potential partnerships are still pending. As a result, investors might face a prolonged wait before critical questions about the drug’s efficacy and market potential are answered.
In another report released on July 30, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.00 price target.