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On Tuesday, Stifel analysts initiated coverage on Altimmune (NASDAQ:ALT) shares, traded on NASDAQ: ALT, with a Buy rating and set a price target of $18.00. The firm's analysts point to the company's focus on developing advanced peptide-based therapeutics as a significant factor in their positive outlook.
Altimmune's leading candidate, pemvidutide/ALT-801, is noted for its innovative approach in targeting metabolic diseases, such as obesity and dyslipidemia, by leveraging a dual agonist that affects both GLP-1 and glucagon pathways.
The analysts at Stifel believe that the treatment of metabolic diseases will increasingly require innovative solutions that go beyond the traditional focus on the diabetes-obesity link. They highlight that pemvidutide/ALT-801 aligns with this trend by offering strong potential for weight loss and direct liver-targeted lipid metabolism.
This approach is seen as particularly suitable for patients whose obesity is associated with metabolic-associated steatohepatitis (MASH) or metabolic-associated steatohepatitis liver disease (MASLD), conditions that are currently underserved in the medical community.
Altimmune's progress with its obesity program, which is ready to enter Phase 3 clinical trials, was also underscored by Stifel's analysts. They suggest that pemvidutide/ALT-801 could become an ideal substitute for the indirect GLP-1 activity that underpins most current treatments for MASH.
The firm's coverage initiation reflects a confidence in Altimmune's potential to carve out a niche within the metabolic disease treatment landscape. Pemvidutide/ALT-801's dual action mechanism is expected to address not only obesity but also the related comorbidities that often accompany it.
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