JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Altimmune (ALT – Research Report) today and set a price target of $25.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors, primarily centered around the promising potential of Altimmune’s pemvidutide. The recent KOL event highlighted the optimism among experts regarding the Phase 2b IMPACT trial results expected next quarter, with the drug showing strong non-invasive data for MASH treatment. The experts, including renowned internists and hepatologists, view pemvidutide as having a differentiated profile that could lead to broad adoption in both MASH and obesity if approved.
Additionally, Altimmune’s introduction of new indications for pemvidutide, such as alcohol use disorder and alcoholic liver disease, further strengthens the drug’s potential market impact. The anticipation of significant reductions in liver fat and improvements in fibrosis and MASH resolution after just 24 weeks of treatment supports the confidence in its success. The projected peak U.S. sales of over $2.5 billion and the alignment of new indications with existing conditions underscore the strategic expansion of pemvidutide’s application, making it a compelling investment opportunity.
Wolleben covers the Healthcare sector, focusing on stocks such as Structure Therapeutics, Inc. Sponsored ADR, BioCryst, and KalVista Pharmaceuticals. According to TipRanks, Wolleben has an average return of 3.5% and a 37.29% success rate on recommended stocks.
In another report released on March 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.