Analysts lowered ALT’s price target due to dilution from equity offerings but kept a Buy rating on MASH program progress.
H.C. Wainwright reduced Altimmune Inc.’s (NASDAQ:ALT) price target to $20 from $25 while reiterating its Buy rating. The adjustment follows recent equity offerings, which diluted shares but strengthened the company’s funding position.
The firm cited continued advancement in Altimmune’s MASH program as a key positive. Earlier, the company reported 48-week data from its IMPACT Phase 2b trial, showing pemvidutide improved cardiometabolic measures, including weight loss and cholesterol reductions.
Shares of ALT have faced pressure amid broader sector volatility but remain a focus for investors tracking weight-loss drug developments.