Altimmune (NASDAQ:ALT) Posts Earnings Results, Misses Estimates By $0.02 EPS

Altimmune (NASDAQ:ALT) released its quarterly earnings results on Thursday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports.

Here are the key takeaways from Altimmune’s conference call:

• PERFORMA, the global Phase III MASH trial, is enrolling and progressing as planned. More than 70 U.S. sites are active, with ex-U.S. sites expected to come online in the coming months; the company anticipates 52-week data in 2029.
• Management described Phase II RECLAIM results in alcohol use disorder as strong, citing improvements in heavy drinking and other measures, including objective PEth results. An FDA end-of-Phase II meeting is scheduled for December to discuss a potential Phase III design, but the company has not yet provided a start timeline and is seeking funding options.
• Altimmune ended the quarter with $480 million in cash, cash equivalents, and investments and expects its runway to extend through the PERFORMA 2029 readout. Q3 R&D expense rose to $27 million from $15 million a year earlier, primarily reflecting development activity, while net loss increased to $31.6 million from $19 million.
• The 121-patient RESTORE Phase II ALD trial is evaluating liver outcomes over 48 weeks, with top-line results expected in the second half of 2027. Management says the findings could support pemvidutide’s development in AUD as well, though it did not forecast the size of the potential treatment effect.

Altimmune Trading Up 0.3%

ALT opened at $1.61 on Friday. The stock has a fifty day moving average price of $2.62 and a 200-day moving average price of $3.17. The company has a current ratio of 26.78, a quick ratio of 26.78 and a debt-to-equity ratio of 0.07. Altimmune has a 12 month low of $1.60 and a 12 month high of $6.44. The firm has a market cap of $314.15 million, a price-to-earnings ratio of -2.07 and a beta of 0.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALT shares. B. Riley Financial restated a “buy” rating and set a $11.00 price objective (down from $13.00) on shares of Altimmune in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Altimmune in a research note on Monday, September 21st. Evercore reaffirmed an “outperform” rating on shares of Altimmune in a research note on Wednesday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating on shares of Altimmune in a report on Tuesday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Trending Headlines about Altimmune

Here are a few of the latest headlines about ALT:

• Positive Sentiment: Results published from the 48-week Phase 2b IMPACT study showed significant improvements versus placebo across measures of liver fat, inflammation and fibrosis, alongside weight loss and generally favorable tolerability. The findings support development of pemvidutide for MASH, though the drug remains investigational. Altimmune announces IMPACT Phase 2b 48-week data
• Negative Sentiment: Altimmune reported a Q3 loss of $0.15 per share, missing the $0.13 loss expected by analysts. Higher R&D spending weighed on results, and continued investment in clinical programs leaves the company dependent on its cash runway and future trial success. ALT Q3 earnings miss, higher costs and funding concerns
• Negative Sentiment: A Seeking Alpha opinion argued pemvidutide’s development may be too late and capital-intensive, underscoring concerns about competition, costs and the time required to reach commercialization. Altimmune: Still Too Late and Too Capital-Intensive

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.