In a report released yesterday, Roger Song from Jefferies maintained a Buy rating on Altimmune (ALT – Research Report), with a price target of $35.00.
Roger Song has given his Buy rating for Altimmune’s stock based on a comprehensive evaluation of the company’s prospects, particularly their leading drug candidate, pemvidutide. He has identified significant potential in pemvidutide as a differentiated asset that could effectively address major health concerns such as obesity, NASH, and dyslipidemia. Song has also highlighted the incorrect interpretations in a recent short report, which he believes do not undermine the drug’s positive attributes and the promise it holds for treating these conditions. This optimistic view of the drug’s potential and the company’s strategic positioning contributes to his Buy rating for Altimmune’s stock.
Additionally, Song perceives the recent pullback in Altimmune’s stock price as an opportunity for investors to buy shares at a discount. He notes that ongoing discussions for potential partnerships and upcoming meetings with the FDA could bolster the stock’s value. Furthermore, Song is encouraged by pemvidutide’s Phase 2 clinical trial results, which show a favorable tolerability profile, significant weight loss, and improvements in lipid profiles without raising cardiovascular concerns. These findings, alongside the drug’s unique dual agonist mechanism, suggest that pemvidutide has a strong competitive edge in the market for obesity and NASH treatments, further justifying Song’s Buy recommendation.
Song covers the Healthcare sector, focusing on stocks such as Altimmune, Kura Oncology, and Icosavax. According to TipRanks, Song has an average return of -16.8% and a 31.25% success rate on recommended stocks.
In another report released yesterday, B.Riley Financial also reiterated a Buy rating on the stock with a $20.00 price target.
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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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