Altimmune (NASDAQ:ALT) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Altimmune (NASDAQ:ALT) issued its quarterly earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Stock Down 13.7%

ALT stock traded down $0.27 during trading on Thursday, reaching $1.67. The stock had a trading volume of 8,994,298 shares, compared to its average volume of 4,230,615. The company has a current ratio of 26.78, a quick ratio of 26.78 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $2.65 and a 200 day moving average price of $3.19. The company has a market capitalization of $323.87 million, a P/E ratio of -2.13 and a beta of 0.16. Altimmune has a 1-year low of $1.63 and a 1-year high of $6.44.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating on shares of Altimmune in a research report on Tuesday, July 28th. Evercore reiterated an “outperform” rating on shares of Altimmune in a report on Wednesday, September 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Altimmune in a research report on Monday, September 21st. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Altimmune presently has an average rating of “Moderate Buy” and a consensus target price of $14.33.

About Altimmune

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.