In a report released today, Jonathan Wolleben from JMP Securities reiterated a Buy rating on Altimmune (ALT – Research Report), with a price target of $25.00.
Jonathan Wolleben’s Buy rating for Altimmune is predicated on a combination of factors, most notably the promising outlook for the drug candidate pemvidutide in treating NASH (non-alcoholic steatohepatitis) and its potential in the obesity market. Wolleben underscores pemvidutide’s mechanistic distinction and its impressive non-invasive trial data, which bolster the belief that the drug will achieve positive results in both NASH resolution and fibrosis improvement. This contrasts favorably with tirzepatide, a similar drug that showed meaningful but not statistically significant results in fibrosis improvement.
Wolleben also points out that upcoming data from a related drug could further validate the mechanism of action shared with pemvidutide, adding to the confidence in Altimmune’s ongoing Phase 2b trial. Additionally, Altimmune’s stock performance indicates growing investor recognition of pemvidutide’s differentiated profile within the GLP-1/glucagon agonist landscape. The company’s strategic enrollment in the Phase 2b IMPACT trial is designed to provide a robust statistical analysis, enhancing the likelihood of demonstrating a significant fibrosis response compared to tirzepatide. This, combined with the drug’s potential market opportunity in NASH and obesity, forms the basis for Wolleben’s optimistic Buy rating and a $25 price target for Altimmune’s stock.
According to TipRanks, Wolleben is a 5-star analyst with an average return of 13.7% and a 45.37% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as Altimmune, Rallybio, and ProQR.
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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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