Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
PharmAthene Inc (NASDAQ:ALT) shares tumbled to a 52-week low this week, with the stock price touching $3.74, marking a 67% decline from its 52-week high of $11.16. The $290 million market cap biodefense company faces a challenging market environment, with InvestingPro analysis indicating the stock is currently trading near its Fair Value. This latest price level reflects a significant downturn from previous valuations, marking a stark contrast to the more robust figures seen in the past. Over the past year, PharmAthene's stock has experienced a precipitous decline of nearly 54%, with particularly sharp losses of 16% in the past week alone. Investors are closely monitoring the company's performance and potential market catalysts that could influence its recovery or further descent, with analyst price targets ranging from $12 to $28. InvestingPro subscribers have access to 13 additional key insights about PharmAthene, including detailed financial health metrics and comprehensive valuation analysis in the Pro Research Report.
In other recent news, Altimmune has been the focus of several analyst reviews and strategic updates. H.C. Wainwright reaffirmed a Buy rating on Altimmune, maintaining a price target of $12.00, citing the potential of their drug pemvidutide and the company's robust financial position, with a cash runway extending into the second half of 2026. JMP Securities echoed this optimism with a Market Outperform rating and a $25.00 price target, emphasizing the promising results from the Phase 2b trial of pemvidutide, particularly its impact on liver fat reduction and potential efficacy in treating metabolic dysfunction-associated steatohepatitis (MASH). Stifel also maintained a Buy rating, setting an $18.00 price target, and highlighted the drug's potential to address liver diseases and related comorbidities.
The IMPACT trial, scheduled for a readout in the second quarter of 2025, is a key focus for Altimmune, as it may establish pemvidutide as the first incretin-based therapy to improve fibrosis within 24 weeks. Analysts are closely watching the trial's outcomes, as positive results could significantly enhance Altimmune's market position and lead to potential strategic partnerships. Citizens JMP reiterated its Market Outperform rating with a $25.00 price target, noting the drug's potential to meet crucial endpoints in clinical trials and its promising profile for conditions like alcohol use disorder and alcoholic liver disease.
The anticipation surrounding the IMPACT trial and the expansion of pemvidutide into new metabolic indications are pivotal for Altimmune's future. Analysts have expressed confidence in the drug's prospects, with some projecting substantial market success if it achieves full market penetration. Altimmune's strategic moves and upcoming clinical milestones continue to be closely monitored by investors and industry observers.
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