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Altimmune (ALT) to Report Q4 Earnings: What's in the Cards?
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We expect investors to focus on Altimmune, Inc.’s (ALT - Free Report) progress in the studies evaluating its lead product candidate, pemvidutide, when it reports fourth-quarter and full-year 2023 results.
Altimmune has an impressive earnings surprise history, beating estimates in each of the trailing four quarters, the average surprise being 16.36%. In the last reported quarter, Altimmune’s earnings beat estimates by 2.50%.
Factors to Note
Altimmune is developing pemvidutide, a novel, investigational and peptide-based GLP-1/glucagon dual receptor agonist, which is currently under mid-stage development for treating obesity and metabolic dysfunction-associated steatohepatitis, formerly known as non-alcoholic steatohepatitis (NASH).
In December 2023, the company reported positive top-line data from the 48-week phase II MOMENTUM study on pemvidutide.
Per the data readout at week 48, patients treated with 1.2 mg, 1.8 mg and 2.4 mg doses of pemvidutide in the MOMENTUM study achieved mean weight loss of 10.3%, 11.2% and 15.6%, respectively, while patients treated with placebo achieved a mean weight loss of 2.2%. Altimmune reported that patients in the 2.4 mg pemvidutide dose cohort observed a near-linear trajectory of continued weight loss at the end of the treatment.
Investors will be keen to get more updates on the development path ahead for pemvidutide on the upcoming earnings call.
Pemvidutide is also being studied in the IMPACT phase IIb NASH study in subjects with non-alcoholic fatty liver disease (NAFLD). The FDA has granted Fast Track designation to pemvidutide for the treatment of NASH.
Shares of Altimmune have plunged 22.7% in the past year compared with the industry’s decline of 2%.
Image Source: Zacks Investment Research
Altimmune’s pipeline also includes another candidate, HepTcell, a novel, investigational and immunotherapeutic, which is being developed in a mid-stage study as a functional cure for chronic hepatitis B in patients of diverse genetic backgrounds. Top-line data from this study is expected in the first quarter of 2024.
Updates related to the progress on HepTcell are expected on the upcoming earnings call. Activities related to developing ALT’s pipeline candidates are most likely to have escalated operating expenses in the to-be-reported quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Altimmune this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Altimmune has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are currently pegged at a loss of 35 cents per share.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics, Inc. (SRPT - Free Report) has an Earnings ESP of +877.2% and a Zacks Rank #2.
Sarepta Therapeutics’ stock has risen 10.4% in the past year. SRPT beat earnings estimates in each of the last four quarters. Sarepta Therapeutics delivered an earnings surprise of 48.67%, on average.
Amarin Corporation plc (AMRN - Free Report) has an Earnings ESP of +42.86% and a Zacks Rank #3.
Amarin’s stock has plunged 32.8% in the past year. AMRN beat earnings estimates in each of the last four quarters, the average earnings surprise being 175.00%. AMRN will report fourth-quarter results on Feb 29.
CRISPR Therapeutics AG (CRSP - Free Report) has an Earnings ESP of +100.00% and a Zacks Rank #3.
CRISPR Therapeutics’ stock has surged 76.3% in the past year. CRSP beat earnings estimates in each of the last four quarters. CRISPR Therapeutics delivered an earnings surprise of 45.74% on average.
Image: Bigstock
Altimmune (ALT) to Report Q4 Earnings: What's in the Cards?
We expect investors to focus on Altimmune, Inc.’s (ALT - Free Report) progress in the studies evaluating its lead product candidate, pemvidutide, when it reports fourth-quarter and full-year 2023 results.
Altimmune has an impressive earnings surprise history, beating estimates in each of the trailing four quarters, the average surprise being 16.36%. In the last reported quarter, Altimmune’s earnings beat estimates by 2.50%.
Factors to Note
Altimmune is developing pemvidutide, a novel, investigational and peptide-based GLP-1/glucagon dual receptor agonist, which is currently under mid-stage development for treating obesity and metabolic dysfunction-associated steatohepatitis, formerly known as non-alcoholic steatohepatitis (NASH).
In December 2023, the company reported positive top-line data from the 48-week phase II MOMENTUM study on pemvidutide.
Per the data readout at week 48, patients treated with 1.2 mg, 1.8 mg and 2.4 mg doses of pemvidutide in the MOMENTUM study achieved mean weight loss of 10.3%, 11.2% and 15.6%, respectively, while patients treated with placebo achieved a mean weight loss of 2.2%. Altimmune reported that patients in the 2.4 mg pemvidutide dose cohort observed a near-linear trajectory of continued weight loss at the end of the treatment.
Investors will be keen to get more updates on the development path ahead for pemvidutide on the upcoming earnings call.
Pemvidutide is also being studied in the IMPACT phase IIb NASH study in subjects with non-alcoholic fatty liver disease (NAFLD). The FDA has granted Fast Track designation to pemvidutide for the treatment of NASH.
Shares of Altimmune have plunged 22.7% in the past year compared with the industry’s decline of 2%.
Altimmune’s pipeline also includes another candidate, HepTcell, a novel, investigational and immunotherapeutic, which is being developed in a mid-stage study as a functional cure for chronic hepatitis B in patients of diverse genetic backgrounds. Top-line data from this study is expected in the first quarter of 2024.
Updates related to the progress on HepTcell are expected on the upcoming earnings call. Activities related to developing ALT’s pipeline candidates are most likely to have escalated operating expenses in the to-be-reported quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Altimmune this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Altimmune has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are currently pegged at a loss of 35 cents per share.
Zacks Rank: Altimmune currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Altimmune, Inc. Price and EPS Surprise
Altimmune, Inc. price-eps-surprise | Altimmune, Inc. Quote
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics, Inc. (SRPT - Free Report) has an Earnings ESP of +877.2% and a Zacks Rank #2.
Sarepta Therapeutics’ stock has risen 10.4% in the past year. SRPT beat earnings estimates in each of the last four quarters. Sarepta Therapeutics delivered an earnings surprise of 48.67%, on average.
Amarin Corporation plc (AMRN - Free Report) has an Earnings ESP of +42.86% and a Zacks Rank #3.
Amarin’s stock has plunged 32.8% in the past year. AMRN beat earnings estimates in each of the last four quarters, the average earnings surprise being 175.00%. AMRN will report fourth-quarter results on Feb 29.
CRISPR Therapeutics AG (CRSP - Free Report) has an Earnings ESP of +100.00% and a Zacks Rank #3.
CRISPR Therapeutics’ stock has surged 76.3% in the past year. CRSP beat earnings estimates in each of the last four quarters. CRISPR Therapeutics delivered an earnings surprise of 45.74% on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.