Citizens JMP lowered the firm’s price target on Altimmune (ALT) to $15 from $25 and keeps an Outperform rating on the shares. Pemvidutide is still a competitive MASH candidate, but its path forward has become more difficult, the analyst tells investors in a research note. The firm thinks pemvidutide will hit both fibrosis and MASH resolution in Phase 3, but says Altimmune needs additional capital to get through the pivotal MASH program, which will now be the overhang on the stock.
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