Altimmune, Inc. (NASDAQ:ALT) Stock Has Average Target Price of $14.33

Key Points

• Analysts are moderately bullish: Ten firms rate Altimmune “Moderate Buy” (eight buy, one hold, one sell), with an average 12-month price target of $14.33.
• Clinical progress and funding: Altimmune reported $480 million in cash, equivalents, and investments at September 30, projecting a runway through 2029; its Phase 3 MASH program is progressing as planned, with an FDA meeting on its alcohol-use-disorder program scheduled for December.
• Risks remain: The company’s quarterly loss of $0.15 per share was wider than the $0.13 analyst estimate, amid higher R&D spending. CEO Jerome Durso bought 30,700 shares at an average $1.62 each.

Shares of Altimmune, Inc. (NASDAQ:ALT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.33.

Several equities analysts recently weighed in on ALT shares. HC Wainwright reissued a "buy" rating on shares of Altimmune in a research note on Tuesday, July 28th. Citigroup restated a "market outperform" rating on shares of Altimmune in a report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Altimmune in a research report on Monday, September 21st. Evercore reiterated an "outperform" rating on shares of Altimmune in a research note on Wednesday, September 23rd. Finally, Wall Street Zen cut shares of Altimmune from a "sell" rating to a "strong sell" rating in a research note on Saturday.

Top Altimmune Stories

Investors following ALT have been watching these stories:

• Positive Sentiment: Altimmune reported $480 million in cash, equivalents, and investments at September 30, with a projected runway through 2029. Management also said the Phase 3 MASH program is progressing as planned and scheduled an FDA meeting on its alcohol-use-disorder program for December. Quarterly update
• Negative Sentiment: Third-quarter loss per share was $0.15, wider than the $0.13 loss analysts expected. Higher research and development spending contributed to the miss, and commentary has raised concerns about the company’s capital needs despite its current cash runway. Earnings analysis
• Negative Sentiment: A Seeking Alpha analysis characterized pemvidutide’s development as late and capital-intensive, underscoring the risk that lengthy trials and spending could weigh on ALT before any potential product revenue. Analysis

Insider Buying and Selling at Altimmune

In other news, CEO Jerome Durso bought 30,700 shares of the company's stock in a transaction dated Friday, November 13th. The shares were bought at an average cost of $1.62 per share, with a total value of $49,734.00. Following the acquisition, the chief executive officer owned 93,200 shares in the company, valued at $150,984. This trade represents a 49.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have bought 50,700 shares of company stock worth $82,334. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Altimmune

A number of hedge funds and other institutional investors have recently bought and sold shares of ALT. Nantahala Capital Management LLC increased its position in Altimmune by 14.7% during the third quarter. Nantahala Capital Management LLC now owns 1,720,000 shares of the company's stock worth $4,919,000 after buying an additional 220,000 shares during the last quarter. R Squared Ltd raised its stake in Altimmune by 99.6% in the third quarter. R Squared Ltd now owns 26,475 shares of the company's stock valued at $76,000 after buying an additional 13,211 shares during the period. StoneX Group Inc. acquired a new stake in shares of Altimmune in the third quarter valued at approximately $46,000. Parallel Advisors LLC lifted its position in shares of Altimmune by 21,755.0% in the third quarter. Parallel Advisors LLC now owns 8,742 shares of the company's stock valued at $25,000 after buying an additional 8,702 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Altimmune by 29.6% in the third quarter. Alps Advisors Inc. now owns 255,875 shares of the company's stock valued at $732,000 after buying an additional 58,501 shares during the last quarter. Institutional investors own 78.05% of the company's stock.

Altimmune Stock Performance

Shares of NASDAQ ALT opened at $1.65 on Friday. The stock has a 50 day moving average price of $2.58 and a 200 day moving average price of $3.15. Altimmune has a 52 week low of $1.58 and a 52 week high of $6.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 26.78 and a current ratio of 26.78. The stock has a market capitalization of $319.99 million, a PE ratio of -2.28 and a beta of 0.16.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Analysts predict that Altimmune will post -0.58 earnings per share for the current fiscal year.

Altimmune Company Profile

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune's work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.

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