Buy Rating Justified by Altimmune’s Promising Pemvidutide Efficacy in NASH Treatment

Analyst Jonathan Wolleben from JMP Securities reiterated a Buy rating on Altimmune (ALT – Research Report) and keeping the price target at $24.00.

Jonathan Wolleben has given his Buy rating due to a combination of factors surrounding Altimmune’s potential in the NASH (non-alcoholic steatohepatitis) market. His confidence stems from the recent data presented on survodutide, a similar GLP/glucagon agonist, which indicated significant weight loss and liver fat reduction, albeit with a less favorable tolerance profile. This data indirectly supports the efficacy of Altimmune’s pemvidutide, which has shown even better liver fat reduction and a cleaner safety profile. The expectation is that pemvidutide could yield some of the most impressive histological data in NASH treatment upon the release of Phase 2 biopsy data in the first quarter of 2025.

Furthermore, the distinct pharmacological profiles of the two drugs underpin Wolleben’s optimism. With pemvidutide’s balanced GLP to glucagon activity ratio, it demonstrates superior liver benefits, a key predictor of histological response in NASH. On the other hand, survodutide’s higher GLP to glucagon ratio lends to its greater impact on weight loss and HbA1c control but at the expense of tolerability. Wolleben believes that pemvidutide’s efficacy, combined with its better tolerability, positions Altimmune favorably in the competitive NASH treatment landscape, justifying the Buy rating and the anticipation of comprehensive data to be revealed at the upcoming EASL meeting.

According to TipRanks, Wolleben is a 4-star analyst with an average return of 7.3% and a 41.51% success rate. Wolleben covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Crinetics Pharmaceuticals, and Rallybio.

In another report released on May 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.

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Altimmune (ALT) Company Description:

The Group is development stage company which intend to acquire an operating business, through a merger, capital stock exchange, asset acquisition or other similar business combination. The Group does not have any activities.