Just days ago, we spoke about Altimmune (ALT), as it traded at $11.90. Today, it’s up to $14.82, and we still like the stock moving forward.
Remember, as we noted on Dec. 20, in early 2023, the company is expected to release 24-week interim results from its ongoing mid-stage obesity trial with pemvidutide. If numbers are solid, it could help millions considered obese. For one, we know “The Phase I clinical trial was successful, leading the company to make high claims about the drug’s potential, saying that it could be as effective as bariatric surgery and that it mimics the effects of diet and exercise,” as noted by PharmaLive.com.
Also, Goldman Sachs initiated coverage of ALT with a Buy rating and $20 price target. As noted by TheFly.com, “The analyst takes a positive view on the probability of a successful outcome for the Phase 2 MOMENTUM study of Altimmune’s lead asset, pemvidutide.”