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Altimmune downgraded to Neutral from Buy at Goldman Sachs
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Altimmune downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded Altimmune to Neutral from Buy with a price target of $6, down from $20. The analyst states that the weight loss reported in the 24-week interim data from the Phase 2 MOMENTUM study of pemvidutide in obese patients is within the range of the firm’s prior intermediate case expectation, but the stock fell following the reported discontinuation rates of 24.0% across the treatment arms of study. The firm adds that these rates are higher than those reported in prior studies of pemvidutide and may justify the need for longer dose titrations within future studies, potentially limiting the agent’s differentiation.

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