Jonathan Wolleben, an analyst from JMP Securities, reiterated the Buy rating on Altimmune (ALT – Research Report). The associated price target remains the same with $25.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors that highlight Altimmune’s strategic positioning and potential in the obesity treatment market. The recent licensing deal by Novo Nordisk for a triple agonist from China underscores the value of targeting glucagon, which aligns with Altimmune’s differentiated approach with their drug pemvidutide. This deal not only validates Altimmune’s strategy but also suggests a promising future for their product in a competitive landscape.
Furthermore, Altimmune is poised to release data from its Phase 2b MASH trial, where pemvidutide is expected to demonstrate significant efficacy. The anticipation of strong results from this trial contributes to the perception of Altimmune’s undervaluation, given the potential of pemvidutide as a potent treatment for MASH. These elements combined suggest a favorable outlook for Altimmune, justifying the Buy rating.
In another report released on March 17, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.
Based on the recent corporate insider activity of 18 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.