Analyst Jonathan Wolleben of JMP Securities reiterated a Buy rating on Altimmune (ALT – Research Report), with a price target of $25.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors influencing the potential of Altimmune’s stock. The positive Phase 2 data for survodutide, which showed an impressive NASH resolution rate and statistically significant fibrosis improvement, underlines the efficacy of GLP-1/glucagon agonists in treating NASH. Wolleben acknowledges that this data strengthens the case for pemvidutide, Altimmune’s candidate, especially as it is poised to deliver similar or better outcomes with an enhanced tolerance profile compared to survodutide. The superior tolerability is expected to be a key differentiator, potentially leading to better patient adherence and outcomes.
Moreover, the analyst perceives that the current market valuation does not fully reflect pemvidutide’s potential in treating NASH and weight loss, suggesting a room for significant upside. The anticipation of forthcoming Phase 2b IMPACT trial results in early 2025 further supports the optimism, as these results are expected to indicate success in both fibrosis and NASH resolution. Given these considerations, along with the projected improvement in drug tolerability, Wolleben maintains a confident outlook on Altimmune’s stock, underpinning his Buy rating and setting a $25 price target based on a risk-adjusted, discounted cash flow analysis.
In another report released on February 15, Piper Sandler also maintained a Buy rating on the stock with a $25.00 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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- Kerrisdale Capital says short Altimmune, says only drug ‘going to bomb’
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