Altimmune’s Pemvi ‘at least as good’ as semaglutide, says JMP Securities

JMP Securities reiterated an Outperform rating and $26 price target on shares of Altimmune. Results from an interim analysis of 160 subjects in its 48-week MOMENTUM Phase 2 obesity trial of pemvidutide showed placebo-adjusted weight loss of up to 10% after 24 weeks, which is competitive, the analyst tells investors in a research note. Additionally, the overall tolerability profile looks comparable to semaglutide/tirzepatide and pemvi continues to show differentiation on lipids, the firm said. JMP Securities would be a buyer on the share weakness, contending that Pemvi looks "at least as good" as semaglutide.