Altimmune initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Corinne Jenkins initiated coverage of Altimmune with a Buy rating and $20 price target, which represents 101% upside potential. 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, in patients with obesity based on our assessment of the clinical data and a proprietary logistic growth model. A positive outcome from the trial provides proof-of-concept for pemvidutide in obesity, "unlocking a significant commercial opportunity for the agent where we also see a high degree of strategic interest," Jenkins tells investors in a research note.