What the bad jobs report means for markets
On Monday, Stifel analysts reiterated their Buy rating for Altimmune stock (NASDAQ: NASDAQ:ALT), maintaining a $18.00 price target, representing significant upside from the current trading price of $5.43. According to InvestingPro data, five analysts have recently revised their earnings estimates upward for the upcoming period, with price targets ranging from $6 to $28. The reaffirmation comes as Altimmune’s key drug candidate, pemvidutide, approaches a pivotal Phase 2b IMPACT readout for MASH expected in June.
Altimmune’s management, including President and CEO Vipin Garg, CMO Scott Harris, and CFO Greg Weaver, participated in discussions highlighting the potential of pemvidutide in the developing MASH market. With a strong balance sheet showing more cash than debt and a healthy current ratio of 15.85, the company appears well-positioned to advance its clinical programs. The market has seen increased activity with the recent success of MDGL’s Rezdiffra, indicating strong demand for effective treatments.
Stifel analysts expressed optimism about pemvidutide’s prospects, citing its potential for rapid reductions in liver fat, improvements in cardiovascular risk, and weight loss. The drug’s profile combines desired characteristics, potentially positioning it as a standout solution in the MASH treatment space.
The analysts believe that the drug has a high probability of success in achieving MASH resolution and improving fibrosis. They anticipate that positive outcomes could attract strategic interest in pemvidutide from potential partners.
Altimmune is prepared to advance pemvidutide in MASH and other liver-related conditions independently, including AUD and ALD in Phase 2 trials. The company aims to capitalize on the growing demand for innovative liver disease treatments. Discover more detailed insights about Altimmune’s financial health, growth prospects, and comprehensive analysis in the exclusive Pro Research Report, available on InvestingPro, along with 8 additional key investment tips for informed decision-making.
In other recent news, Altimmune Inc. reported its first-quarter 2025 financial results, showing a narrower-than-expected loss. The company’s earnings per share (EPS) were -$0.26, beating analyst expectations of -$0.38, and revenue for the quarter was $5 million. Altimmune continues to focus on the development of its lead candidate, pemvidutide, particularly targeting nonalcoholic steatohepatitis (NASH). Piper Sandler reiterated its Overweight rating and $25.00 price target for Altimmune, citing the potential of pemvidutide in the Phase 3 NASH market. The firm highlighted the upcoming Phase 2b IMPACT data readout as a pivotal event for Altimmune. Additionally, Altimmune has initiated a Phase 2 trial to evaluate pemvidutide for Alcohol Use Disorder (AUD). The trial will assess the efficacy and safety of the drug in reducing heavy drinking days among participants. Altimmune plans to share topline data from the IMPACT Phase 2b trial of pemvidutide in NASH in the second quarter of 2025.
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