Goldman Sachs has resumed coverage of Altimmune (ALT, Financial) with a Sell recommendation, setting a price target of $1. This projection indicates a potential decrease of 79% in the stock's value. The analysis suggests that Altimmune's current data has not shown significant differentiation for its drug, pemvidutide, aimed at treating obesity and metabolic dysfunction-associated steatohepatitis. The firm highlights obstacles for the company in completing the necessary clinical development to successfully market pemvidutide.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Altimmune Inc (ALT, Financial) is $22.38 with a high estimate of $28.00 and a low estimate of $12.00. The average target implies an upside of 372.05% from the current price of $4.74. More detailed estimate data can be found on the Altimmune Inc (ALT) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Altimmune Inc's (ALT, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
ALT Key Business Developments
Release Date: May 13, 2025
- Cash Position: Ended Q1 2025 with $150 million in cash, cash equivalents, and short-term investments, up from $132 million at year-end 2024.
- ATM Facility: Raised $35 million net in Q1 2025, with an additional $16 million since April 1.
- Credit Facility: Entered into a $100 million credit facility with Hercules Capital, with $15 million funding at closing and additional tranches available.
- R&D Expenses: $15.8 million for Q1 2025, down from $21.5 million in Q1 2024.
- G&A Expenses: $6 million for Q1 2025, up from $5.3 million in Q1 2024.
- Net Loss: $19.6 million or $0.26 per share for Q1 2025, compared to $24.4 million or $0.34 per share in Q1 2024.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Altimmune Inc (ALT, Financial) is optimistic about the upcoming readout of their IMPACT Phase 2b NASH trial, expecting to achieve key efficacy and safety objectives.
- The company has entered into a $100 million credit facility with Hercules Capital, enhancing financial flexibility for the development of pemvidutide.
- Altimmune Inc (ALT) is expanding its clinical trials to include alcohol use disorder (AUD) and alcohol liver disease (ALD), addressing significant unmet medical needs.
- The company reported a strong cash position, ending the first quarter with $150 million in cash, cash equivalents, and short-term investments.
- Altimmune Inc (ALT) is preparing for a Phase 3 trial in NASH, with plans to hold an end of Phase 2 meeting with the FDA in the fourth quarter of 2025.
Negative Points
- The company faces risks and uncertainties that could cause actual results to differ materially from forward-looking statements.
- R&D expenses decreased from $21.5 million in Q1 2024 to $15.8 million in Q1 2025, which might indicate reduced investment in research and development.
- Net loss for the first quarter of 2025 was $19.6 million, indicating ongoing financial challenges.
- The company is still in the process of rereading biopsies for the IMPACT trial, which could affect the timeline and outcomes.
- There is uncertainty regarding the placebo response rate in the IMPACT trial, which could impact the trial's success.
