H.C. Wainwright maintains Buy rating on Altimmune stock
Investing.com
Published Apr 04, 2025 07:30AM ET
On Friday, H.C. Wainwright's analysts reaffirmed a Buy rating on Altimmune (NASDAQ:ALT) shares, with a steady price target of $12.00. According to InvestingPro data, the stock is currently trading near its 52-week low of $4.43, significantly below its high of $11.16, suggesting potential upside based on InvestingPro's Fair Value analysis. The firm's commentary highlighted the potential of Altimmune's drug pemvidutide, targeting metabolic dysfunction-associated steatohepatitis (MASH), obesity, and additional indications such as alcohol use disorder (AUD) and alcohol liver disease (ALD).
During a virtual fireside Q&A session held on March 24, Altimmune's CEO Vipin K. Garg and CMO M. Scott Harris discussed pemvidutide, a glucagon-like peptide-1 (GLP-1) and glucagon dual receptor agonist. Subsequent virtual investor meetings on March 26 and 27 further delved into the drug's prospects. Analysts noted that while Altimmune's foray into AUD and ALD could utilize the metabolic and hepatic benefits of pemvidutide to meet significant unmet needs in alcohol-related diseases, the focal point for investors is the upcoming Phase 2b trial results.
The IMPACT trial readout, expected in the second quarter of 2025, is poised to be a significant event for the company. Positive results could distinguish pemvidutide as the first incretin-based therapy to demonstrate fibrosis improvement within 24 weeks. With analyst price targets ranging from $12 to $28 and the company's next earnings report scheduled for May 8, 2025, investors following InvestingPro metrics are closely monitoring these catalysts. This would not only separate it from existing GLP-1 monotherapies and other liver-targeted treatments but also solidify the drug's potential as a blockbuster in treating MASH and obesity.
Altimmune is reported to be in a robust financial position, with a cash runway of $131.9 million extending into the second half of 2026. This financial strength is reflected in the company's impressive current ratio of 13.11 and minimal debt levels. InvestingPro subscribers can access detailed financial health scores and 12+ additional ProTips that provide deeper insights into Altimmune's investment potential. This ensures that the company is well-funded to advance through the IMPACT trial results and subsequent interactions with the FDA.
The reiteration of the Buy rating and the $12 price target on Altimmune's stock reflects confidence in the company's clinical development and the anticipated milestones that could enhance pemvidutide's commercial and regulatory standing.
In other recent news, Altimmune Inc. reported its fourth-quarter 2024 earnings, which showed a minor beat on earnings per share (EPS) forecasts with an actual EPS of -0.33 against the expected -0.34. However, the company's revenue was significantly below expectations, coming in at $5 million compared to a forecast of $714 million. Despite the revenue shortfall, investor optimism remained high, reflected in the stock's price increase. Analysts from H.C. Wainwright reaffirmed a Buy rating with a $12 price target, highlighting the potential impact of the upcoming Phase 2b trial readout for pemvidutide. Stifel analysts also maintained a Buy rating and set an $18 price target, expressing optimism about Altimmune's strategic plans for pemvidutide, which targets various liver diseases. JMP Securities reiterated a Market Outperform rating with a $25 price target, citing the promising data from pemvidutide's trials as a driver for potential market cap growth. These developments indicate a keen focus on the IMPACT trial results, expected in 2025, which could significantly influence Altimmune's market position.
Get The News You Want
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.