B. Riley reiterated a Buy rating and $20 price target on Altimmune (ALT), adding that it is putting its price target under review after the company announced results from IMPACT Phase 2b trial of pemvidutide. The unusually high placebo response on the key fibrosis improvement endpoint paints a perception of mixed results, driving intraday equity weakness which the firm now views as overdone, the analyst tells investors in a research note. The firm added that biopsy variability overshadows the treatment’s anti-MASH efficacy and tolerability.
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- Altimmune’s Pemvi hits MASH goal, shows broad potential, says Stifel
- Altimmune’s Pemvidutide: Promising Phase 2b Results Reinforce Buy Rating Amid Stock Decline
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- Altimmune announces results from IMPACT Phase 2b trial of pemvidutide