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Altimmune Inc (ALT)
NASDAQ:ALT
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Altimmune
(NASDAQ:ALT)
Rating:60Neutral
Price Target:
$6.00
▲(0.84%Upside)
Positive Factors
Clinical Results
Pemvidutide is showing rapid reductions in liver fat and improvement in cardiovascular risk, which are critical factors for success in treating liver-related conditions.
Regulatory Progress
Management confirmed that the Phase 3 FDA briefing package is already complete and that Altimmune expects to meet with the agency in early 4Q25, supporting potential initiation of a registrational program in early 2026.
Strategic Opportunities
The potential for Pemvidutide to outperform current treatments could drive strategic interest and collaboration opportunities.
Negative Factors
Clinical Trials
If successful, pemvidutide would become the first therapy in any class to demonstrate statistically significant improvements in both MASH resolution and fibrosis after just 24 weeks, while also delivering clinically meaningful weight loss.
Market Valuation
ALT currently seems undervalued trading at a discount to current Phase 3 MASH companies, presenting a significant opportunity to catch up in valuation.
Altimmune (ALT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$455.82M
Dividend YieldN/A
Average Volume (3M)2.40M
Price to Earnings (P/E)―
Beta (1Y)2.23
Revenue Growth-95.12%
EPS Growth21.09%
CountryUS
Employees59
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.26
Shares Outstanding81,106,970
10 Day Avg. Volume2,465,520
30 Day Avg. Volume2,395,483
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)3.16
Price to Sales (P/S)0.00
P/FCF Ratio-6.01
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue865.23
Enterprise Value/Gross Profit-10.57K
Enterprise Value/Ebitda-1.10
Forecast
1Y Price Target
$21.86Price Target Upside267.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
Altimmune Business Overview & Revenue Model
Company DescriptionAltimmune, Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide (proposed INN, formerly known as ALT-801), is a GLP-1/glucagon dual receptor agonist that is in Phase 1b trial for the treatment of obesity and non-alcoholic steatohepatitis. It is also developing HepTcell, an immunotherapeutic product candidate, which is in Phase 2 clinical trial for patients chronically infected with the hepatitis B virus. The company was formerly known as Vaxin Inc. and changed its name to Altimmune, Inc. in September 2015. Altimmune, Inc. was founded in 1997 is headquartered in Gaithersburg, Maryland.
How the Company Makes MoneyAltimmune primarily makes money through the development and commercialization of its proprietary drug candidates. The company's revenue streams consist of research and development collaborations, government contracts, and potential future product sales. Altimmune has previously received funding through government contracts for its infectious disease programs and may enter into partnerships with other pharmaceutical companies to co-develop or license its therapies. These partnerships can provide milestone payments and royalties, contributing to the company's revenue. Additionally, as its drug candidates progress through clinical trials, Altimmune may secure additional funding through equity offerings to support its operations and research initiatives.
Altimmune Earnings Call Summary
Earnings Call Date:May 13, 2025
(Q1-2025)
| % Change Since: -1.00%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Positive
The earnings call highlighted the anticipation for the IMPACT Phase 2b NASH trial results and financial strategies to support development. The expansion into AUD and ALD also shows growth potential. However, net losses and R&D expenses remain concerns.Q1-2025 Updates
Positive Updates
Upcoming Readout of IMPACT Phase 2b NASH Trial
The trial aims to show statistical significance on NASH endpoints at 24 weeks, a first among incretins, and combines these effects with clinically meaningful weight loss.
Credit Facility with Hercules Capital
Altimmune entered a credit facility for up to $100 million, providing financial flexibility to support the development of pemvidutide.
Successful Enrollment in IMPACT Phase 2b Trial
The trial enrolled 212 participants, exceeding the original target and increasing study power.
Potential Expansion into AUD and ALD
Plans for Phase 2 trials in Alcohol Use Disorder and Alcohol Liver Disease, areas with significant unmet medical needs, were unveiled, potentially expanding pemvidutide's application.
Strong Financial Position
Altimmune ended Q1 2025 with $150 million in cash, cash equivalents, and short-term investments, an increase from $132 million at year-end 2024.
Negative Updates
Net Loss in Q1 2025
The company reported a net loss of $19.6 million or $0.26 per share, compared to a net loss of $24.4 million or $0.34 per share in the first quarter of 2024.
R&D Expenses
R&D expenses were $15.8 million for Q1 2025, a decrease from $21.5 million in the same period of 2024, primarily due to upfront CRO costs for the IMPACT trial.
Company Guidance
During Altimmune's first quarter 2025 financial results conference call, the company provided optimistic guidance on several fronts. The firm anticipates announcing the results of its IMPACT Phase 2b NASH trial this quarter, with expectations of achieving statistical significance at 24 weeks for both NASH endpoints and clinically meaningful weight loss. The company also revealed a new $100 million credit facility with Hercules Capital, bolstering their financial position to support ongoing and future trials. Altimmune is planning Phase 2 trials for alcohol use disorder (AUD) and alcohol liver disease (ALD) within the second and third quarters of 2025, respectively. The company's cash balance increased to $150 million, supported by a $35 million raise from an ATM facility in the first quarter. Further, they reported a net loss of $19.6 million for the quarter, an improvement from the previous year's $24.4 million. Altimmune's leadership emphasized the potential of their lead candidate, pemvidutide, to be a transformative treatment across multiple fibrotic liver diseases, highlighting the drug's unique profile combining liver fat reduction and weight loss.Altimmune Financial Statement Overview
Summary
Altimmune shows a strong balance sheet with low leverage but faces significant challenges in profitability and cash flow, as indicated by negative margins and cash flow metrics. Improvements in operational efficiency and revenue growth are crucial.Income Statement
Altimmune has shown inconsistent revenue figures over the years, with a significant drop in the most recent period. Gross profit margins have been volatile, and the company has consistently posted negative net income, leading to negative net profit margins. The EBIT and EBITDA margins are also negative, indicating operational challenges in achieving profitability.20
Very Negative
Balance Sheet
The company maintains a strong equity position with an equity ratio of 88.65% in the latest period, reflecting a solid balance sheet with minimal debt. The debt-to-equity ratio is favorable, indicating low financial leverage. However, the persistent net income losses have impacted the return on equity, which remains negative.70
Positive
Cash Flow
Altimmune has experienced negative free cash flow, indicating challenges in generating cash from operations. The operating cash flow to net income ratio is negative, as is the free cash flow to net income ratio, reflecting the company's difficulties in translating earnings into cash flow.30
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 20.00K | 20.00K | 426.00K | -68.00K | 4.41M | 8.19M | Gross Profit |
| -41.00K | 20.00K | -51.00K | -568.00K | 3.86M | -25.32M | EBIT |
| -98.19M | -103.17M | -95.93M | -87.74M | -96.91M | -54.80M | EBITDA |
| -90.75M | -94.81M | -87.94M | -84.40M | -96.53M | -54.15M | Net Income Common Stockholders |
| -90.24M | -95.06M | -88.45M | -84.71M | -97.09M | -49.04M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 215.92M | 131.89M | 197.81M | 184.88M | 190.30M | 215.92M | Total Assets |
| 245.12M | 139.31M | 210.64M | 206.93M | 218.86M | 245.12M | Total Debt |
| 1.82M | 1.68M | 671.00K | 1.12M | 1.53M | 1.82M | Net Debt |
| -114.09M | -35.24M | -134.45M | -109.97M | -188.77M | -114.09M | Total Liabilities |
| 19.24M | 15.80M | 16.54M | 21.64M | 19.73M | 19.24M | Stockholders Equity |
| 225.88M | 123.51M | 194.10M | 185.29M | 199.13M | 225.88M |
| Cash Flow | Free Cash Flow | ||||
| -80.33M | -79.85M | -75.86M | -62.71M | -90.55M | -34.65M | Operating Cash Flow |
| -80.33M | -79.85M | -75.81M | -62.59M | -78.24M | -34.44M | Investing Cash Flow |
| 6.03M | -28.39M | 13.73M | -73.40M | 87.52M | -72.09M | Financing Cash Flow |
| 44.42M | 10.04M | 86.11M | 56.78M | 65.10M | 213.49M |
Altimmune Technical Analysis
Positive
5.95
Price Trends
5.16
Positive
5.72
Positive
6.55
Negative
Market Momentum
0.08
Negative
59.78
Neutral
72.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALT, the sentiment is Positive. The current price of 5.95 is above the 20-day moving average (MA) of 5.63, above the 50-day MA of 5.16, and below the 200-day MA of 6.55, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 59.78 is Neutral, neither overbought nor oversold. The STOCH value of 72.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALT.
Altimmune Risk Analysis
Altimmune disclosed 64 risk factors in its most recent earnings report. Altimmune reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Changes in funding for the FDA and other domestic and foreign government authorities could hinder their ability to hire and retain key leadership and other personnel, or otherwise prevent new products and services from being developed or commercialized in a timely manner, which could negatively impact our business. Q4, 2024
Altimmune Peers Comparison
Overall Rating
UnderperformOutperform
Sector (54)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $608.21M | 14.15 | 20.50% | ― | 2333.50% | ― | |
60 Neutral | $455.82M | ― | -57.28% | ― | -95.12% | 21.09% | |
55 Neutral | $622.77M | ― | -49.97% | ― | -14.16% | 25.80% | |
54 Neutral | $5.31B | 3.26 | -45.10% | 2.79% | 16.76% | 0.02% | |
51 Neutral | $477.59M | ― | 344.74% | ― | -47.32% | -26.67% | |
43 Neutral | $662.54M | ― | -48.45% | ― | ― | 7.15% | |
33 Underperform | $640.58M | ― | -71.44% | ― | ― | 19.94% |
* Healthcare Sector Average
Performance Comparison
ALT
Altimmune
5.95
-0.53
-8.18%
AUTL
Autolus Therapeutics
2.35
-1.96
-45.48%
STOK
Stoke Therapeutics
11.13
-4.71
-29.73%
ORIC
Oric Pharmaceuticals
9.86
1.85
23.10%
IVA
Inventiva
3.62
0.46
14.56%
SANA
Sana Biotechnology
2.83
-4.06
-58.93%
Altimmune Corporate Events
Private Placements and FinancingFinancial Disclosures
Altimmune Secures $100 Million Credit Facility
Positive
May 13, 2025
On May 13, 2025, Altimmune entered into a Loan and Security Agreement with Hercules Capital, securing a $100 million credit facility to enhance its financial flexibility and support the development of its lead therapeutic candidate, pemvidutide. The company announced its first quarter 2025 financial results, reporting cash and short-term investments of $150 million as of March 31, 2025. Altimmune anticipates significant milestones in 2025, including top-line data from the IMPACT Phase 2b trial of pemvidutide in MASH, and the initiation of Phase 2 trials for AUD and ALD. These developments are expected to strengthen Altimmune’s position in the biopharmaceutical industry, particularly in addressing unmet medical needs in liver and cardiometabolic diseases.
The most recent analyst rating on (ALT) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on Altimmune stock, see the ALT Stock Forecast page.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.