Altimmune (ALT) Receives FDA Breakthrough Therapy Designation, Shares Rise Nearly 4%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 7h ago
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Source: stocktwits
- FDA Breakthrough Designation: Altimmune's pemvidutide received FDA Breakthrough Therapy Designation based on mid-stage trial data showing significant MASH resolution, which is expected to expedite its clinical development and enhance market confidence in its product.
- Clinical Trial Plans: The company is looking to initiate a late-stage trial evaluating multiple pemvidutide doses over a 52-week period, which will provide critical data to support its competitive position in the MASH market.
- Investor Confidence Rebounds: Altimmune's shares rallied nearly 4% on Thursday, reflecting a gradual recovery in investor confidence regarding the company's future, with market sentiment shifting from neutral to bullish, indicating recognition of the company's fundamentals.
- Strong Financial Position: Altimmune is currently well-positioned financially to conduct its clinical trials independently while also having opportunities for profitable collaborations or buyout agreements, which could enhance its market valuation and strategic positioning.
Analyst Views on ALT
Wall Street analysts forecast ALT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALT is 13.00 USD with a low forecast of 12.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 4.620
Low
12.00
Averages
13.00
High
14.00
Current: 4.620
Low
12.00
Averages
13.00
High
14.00
About ALT
Altimmune, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing next-generation peptide-based therapeutics. It is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity, metabolic dysfunction-associated steatohepatitis (MASH) and other indications. Activation of the GLP-1 and glucagon receptors is believed to mimic the complementary effects of diet and exercise on weight loss, with GLP-1 suppressing appetite and glucagon increasing energy expenditure. Glucagon is also recognized as having direct effects on hepatic fat metabolism, to rapid reductions in levels of liver fat and serum lipids. The Company has completed the MOMENTUM Phase II obesity trial and is being studied in the IMPACT Phase IIb MASH trial. The Company also develops and commercializes surfactant-functionalized (EuPort domain) incretin-based peptide therapeutics, including (GLP-1-glucagon)/oxyntomodulin, and variants.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
