Goldman Sachs reinstated coverage of Altimmune with a Neutral rating and $13 price target. Following the positive Phase 2 MOMENTUM data for pemvidutide in obesity, the firm is taking a more constructive view on the path to market for the asset in patients with obesity. That said, given Altimmune’s limited financial capacity, next steps for the program hinge on the company identifying a partner with the infrastructure to conduct large scale Phase 3 studies for the asset in obesity, the analyst tells investors in a research note.
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