What the bad jobs report means for markets
On Wednesday, Citizens JMP analyst Jonathan Wolleben confirmed a Market Outperform rating for Altimmune (NASDAQ:ALT) with a stable price target of $25.00. Currently trading at $4.85, the stock has shown strength with a 10.23% gain over the past week, according to InvestingPro data. Wolleben expects significant upcoming results from the Phase 2b IMPACT trial of pemvidutide, a treatment for non-alcoholic steatohepatitis (NASH), to potentially elevate the company’s stock value, which appears fairly valued based on InvestingPro’s analysis.
The analyst anticipates that the trial data, expected later this quarter, will reveal high rates of resolution and fibrosis response, positioning pemvidutide favorably among NASH treatments. His optimism is based on strong non-invasive indicators of liver fat reduction and direct antifibrotic effects, as well as encouraging biopsy data from a similar Boehringer compound. With analyst targets ranging from $12 to $28, and a strong consensus recommendation, market expectations align with this positive outlook.
Wolleben highlighted that if the IMPACT trial is successful, it would mark a milestone as the first incretin-based therapy to demonstrate histological improvement in just 24 weeks. Additionally, it could be the first NASH therapy to achieve statistical significance in fibrosis improvement coupled with significant weight loss within the same timeframe, setting it apart from other candidates.
The analyst believes that favorable results from the IMPACT trial could propel Altimmune shares to a value between $15 and $20 or higher, depending on the strength of the data. He recommends investing in Altimmune shares ahead of the trial results announcement, suggesting potential for a notable increase in stock value.
In other recent news, Altimmune has been the focus of several analyst reports due to its ongoing clinical developments. The company’s drug, pemvidutide, is currently undergoing a Phase 2b trial, which is seen as a critical step in treating metabolic dysfunction-associated steatohepatitis (MASH). Analysts from H.C. Wainwright have maintained a Buy rating with a $12 price target, citing the drug’s potential to improve fibrosis within 24 weeks. Meanwhile, JMP Securities has expressed optimism, maintaining a Market Outperform rating and a $25 price target, highlighting the drug’s significant reduction in liver fat as a promising indicator for MASH treatment.
Stifel analysts have also reiterated a Buy rating with an $18 price target, focusing on the comprehensive strategy Altimmune has presented for pemvidutide, which includes addressing obesity-related liver diseases and alcohol-related disorders. The company is financially robust, with a cash runway extending into the second half of 2026, allowing it to fund ongoing and upcoming trials. Analysts have noted the potential for pemvidutide to distinguish itself from existing treatments by achieving significant histologic improvements in a shorter timeframe.
Citizens JMP analyst Jonathan Wolleben has emphasized the drug’s prospects in treating both MASH and alcohol-related conditions, with a projected $2.5 billion in peak U.S. sales if full market penetration is achieved. The upcoming IMPACT trial results, expected in the second quarter of 2025, are anticipated to be a pivotal moment for Altimmune. These developments underscore the growing interest and confidence in Altimmune’s clinical pipeline and strategic direction.
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