Jonathan Wolleben, an analyst from JMP Securities, reiterated the Buy rating on Altimmune (ALT – Research Report). The associated price target is $25.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors surrounding Altimmune’s promising drug candidate, pemvidutide. His optimism is anchored in the compelling efficacy showcased in the treatment of non-alcoholic fatty liver disease (NAFLD) patients. The recent analysis presented at the NASH-TAG meeting highlighted pemvidutide’s potential in reducing liver stiffness and fibrogenesis, which bolsters confidence in the drug’s ability to impact non-alcoholic steatohepatitis (NASH) positively. Excitement within the hepatology community about this class of drugs, especially pemvidutide’s early profile and its improvement in multiple NASH pathogenesis markers, further underpins the reasoning behind the Buy rating.
Moreover, Wolleben’s endorsement is reinforced by the drug’s non-invasive profile which is seen as reducing the risks associated with the upcoming Phase 2b IMPACT trial results expected in the first quarter of 2025. The strong correlation between liver fat reduction and NASH resolution, as noted by key opinion leaders (KOLs) at the conference, and the impressive 92% of patients hitting the liver fat threshold with pemvidutide, substantiates the belief in the drug’s dual and triple glucagon agonist mechanisms. These are anticipated to yield benefits in both NASH resolution and fibrosis improvement, thereby justifying the Buy rating and the $25 risk-adjusted, discounted cash flow-derived price target on Altimmune.
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Altimmune (ALT) Company Description:
The Group is development stage company which intend to acquire an operating business, through a merger, capital stock exchange, asset acquisition or other similar business combination. The Group does not have any activities.
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