H.C. Wainwright maintains Buy on Altimmune stock, $12 target

On Thursday, H.C. Wainwright reaffirmed a positive stance on Altimmune (NASDAQ:ALT) shares, maintaining a Buy rating and a $12.00 price target. Currently trading at $6.99 with a market capitalization of $497 million, the stock has significant upside potential according to analysts, with targets ranging from $12 to $28. The endorsement follows a January 28 meeting with Altimmune’s top executives, including CEO Vipin Garg, CFO Greg Weaver, and CSO Scot Roberts. InvestingPro data shows that 4 analysts have recently revised their earnings expectations downward for the upcoming period. Analysts at the firm expressed continued confidence in the prospects of pemvidutide, Altimmune’s therapeutic candidate for metabolic dysfunction-associated steatohepatitis (MASH), as the company nears its second quarter 2025 milestone for the Phase 2b IMPACT trial results.

The IMPACT trial is a critical evaluation of pemvidutide, which functions as a GLP-1/glucagon receptor dual agonist, in a population of MASH patients, some of whom also have diabetes. The trial, with an estimated enrollment of 190 participants, is biopsy-driven and aims to establish the efficacy of pemvidutide in resolving MASH and improving fibrosis after a 24-week period. According to InvestingPro analysis, while Altimmune maintains a strong liquidity position with a current ratio of 16.87 and more cash than debt, the company is rapidly burning through its cash reserves. A positive outcome from the trial could set pemvidutide apart in the market as a unique treatment option and could significantly enhance shareholder value.

The recent data released by Akero Therapeutics (NASDAQ:AKRO) has been acknowledged by H.C. Wainwright as a notable benchmark in the competitive landscape for MASH treatments. These findings have been separately analyzed by the firm to gauge the potential market positioning of pemvidutide relative to its peers.

In anticipation of the forthcoming trial data, H.C. Wainwright’s reiterated rating and price target reflect their optimism about Altimmune’s trajectory and the impact that the IMPACT trial results could have on the company’s valuation. The second quarter readout is seen as a pivotal event that could validate pemvidutide’s effectiveness and its role in addressing a significant unmet medical need in the treatment of MASH. Notably, the stock’s low beta of 0.17 suggests relatively low volatility compared to the broader market. For a comprehensive analysis of Altimmune’s financial health and growth prospects, including 8 additional exclusive insights, visit InvestingPro.

In other recent news, Altimmune, a clinical-stage biopharmaceutical company, has been the subject of several significant developments. Stifel analysts initiated coverage on Altimmune shares with a Buy rating, citing the company’s focus on developing advanced peptide-based therapeutics. The company’s lead candidate, pemvidutide/ALT-801, is noted for its potential in targeting metabolic diseases such as obesity and dyslipidemia.

In addition, Altimmune announced positive results from its Phase 1b clinical trial of pemvidutide. The data showed promising outcomes for subjects with overweight or obesity, including a significant reduction in liver fat content and decreases in total cholesterol and triglycerides.

Altimmune was also included in the Nasdaq Biotechnology Index, a recognition of the company’s progress. This inclusion comes as Altimmune prepares for significant milestones in 2025, including top-line data from the Phase 2b IMPACT trial of pemvidutide for metabolic-associated fatty liver disease.

Piper Sandler, a leading investment bank, identified Altimmune as one of several companies with key Phase 2b readouts expected in 2025. The firm’s recent outlook note provides a detailed overview of trial designs, expectations, and success criteria for these upcoming readouts.

Lastly, Altimmune’s CEO, Vipin Garg, discussed potential drug partnerships during a recent CNBC interview, highlighting the potential benefits of pemvidutide not only for weight loss but also for addressing certain co-morbidities. These are the latest developments in Altimmune’s ongoing efforts to develop innovative solutions for metabolic diseases.

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