These Analysts Slash Their Forecasts On Altimmune Following Q2 Results

Altimmune, Inc. ALT posted a loss for the second quarter on Tuesday.

The company posted a quarterly loss of 27 cents per share, versus market estimates of a loss of 32 cents per share. The company's quarterly sales came in at $5.000K.

“Pemvidutide demonstrated rapid and robust MASH effects, meaningful weight loss and impressive safety and tolerability in the recently reported results from the IMPACT Phase 2b trial,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “We are preparing for an End-of-Phase 2 Meeting with the FDA which will position us well for Phase 3 development. In addition, we look forward to reporting the full 48-week data in the fourth quarter and providing further updates as we continue to advance pemvidutide.”

Altimmune shares gained 5.7% to trade at $3.8250 on Wednesday.

These analysts made changes to their price targets on Altimmune following earnings announcement.

• B. Riley Securities analyst Mayank Mamtani maintained Altimmune with a Buy and lowered the price target from $20 to $18.
• UBS analyst Eliana Merle maintained the stock with a Buy and lowered the price target from $26 to $24.
• HC Wainwright & Co. analyst Patrick Trucchio reiterated Altimmune with a Buy and maintained a $12 price target.

Considering buying ALT stock? Here’s what analysts think:

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