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.
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Patrick Trucchio has given his Buy rating due to a combination of factors including the promising results from Altimmune’s Phase 2b IMPACT trial. The trial demonstrated that pemvidutide achieved significant MASH resolution without worsening fibrosis in a notable percentage of patients, and also showed substantial weight loss and excellent tolerability. These outcomes suggest that pemvidutide could be a leading therapy in the MASH treatment landscape.
Moreover, the trial’s results showed significant improvements in liver fat reduction and fibrosis, reinforcing the potential of pemvidutide as a foundational treatment for liver and cardiometabolic diseases. Despite the positive data, Altimmune’s stock has seen a significant decline, which Trucchio believes is an overreaction. With expectations for further positive outcomes from ongoing trials and the advancement to Phase 3, Trucchio reiterates a Buy rating with a price target of $12, considering the company’s valuation and growth prospects.
Trucchio covers the Healthcare sector, focusing on stocks such as uniQure, Sangamo Biosciences, and Alnylam Pharma. According to TipRanks, Trucchio has an average return of -0.2% and a 36.05% success rate on recommended stocks.