Altimmune, Inc. (ALT) AI Stock Analysis
ALT AI stock analysis summary
AI ResearchAltimmune, Inc. (ALT) is a clinical-stage biopharmaceutical company focused on developing treatments for obesity and liver diseases. In FY2025, the company reported $41,000 in revenue alongside a net income of -$88.1M. As of June 30, 2026, Altimmune held $326.3M in cash and short-term investments against $35.7M in total debt.
- Market cap
- $427.9M
- Revenue (TTM)
- $31,000
- P/E
- — fwd 8.2x
- 1Y return
- -43.4% S&P 500 16.8%
- Avg. target
- $17.11 677.8% vs last close
Bull case
- Altimmune holds a solid balance sheet with $326.3M in cash and short-term investments and net cash of $290.6M as of June 30, 2026.
- Wall Street analysts maintain an average price target of $17.11, which is 677.8% above the last close of $2.20.
- The company demonstrated execution on earnings expectations by delivering 3 EPS beats over the last 4 quarters.
Bear case
- Altimmune reported continuous net losses, including net income of -$88.1M in FY2025 and -$95.1M in FY2024.
- The business continues to burn capital, posting free cash flow of -$67.5M in FY2025 and -$79.8M in FY2024.
- The stock has underperformed broader benchmarks, falling 43.4% over the past 1 year versus a 16.8% gain for the S&P 500.
What Altimmune does
Altimmune, Inc., headquartered in Gaithersburg, Maryland, is a clinical-stage biopharmaceutical company focused on treatments for obesity and liver diseases. Its leading product candidate is pemvidutide (proposed INN, formerly ALT-801), a dual GLP-1/glucagon receptor agonist in Phase 1b trials for obesity and non-alcoholic steatohepatitis (NASH). The company is also developing HepTcell, an immunotherapeutic candidate in Phase 2 clinical trials for patients chronically infected with the hepatitis B virus (HBV). Originally founded as Vaxin Inc. in 1997 and rebranded in September 2015, Altimmune leverages strategic collaborations to advance its clinical pipeline.
Growth and profitability
Altimmune generated minimal revenue across recent fiscal years, moving from $4.4M in FY2021 to -$68,000 in FY2022, followed by $426,000 in FY2023, $20,000 in FY2024, and $41,000 in FY2025. From FY2020 to FY2025, the 5-year revenue CAGR was -65.3%. Operating losses remained large due to clinical development, with FY2025 R&D expense at $66.4M and net income of -$88.1M, compared to net income of -$95.1M in FY2024. Diluted EPS was -$1.01 in FY2025 and -$0.76 for the trailing twelve months. For the latest quarter ending June 30, 2026, quarterly revenue growth was 420.0% year-over-year, bringing trailing twelve-month revenue to $31,000.
Balance sheet and cash flow
As of June 30, 2026, Altimmune held $326.3M in cash and short-term investments with total debt of $35.7M, resulting in net cash of $290.6M. Total assets stood at $527.2M and shareholders' equity was $474.2M, supporting a current ratio of 26.78 and a debt-to-equity ratio of 0.08. In FY2025, operating cash flow was -$67.5M and free cash flow was -$67.5M, while capital expenditures were $11,000 and share issuance totaled $291,000.
Valuation and performance
Altimmune trades at a forward P/E of 8.2x, below the 17.3x median of its US-listed Healthcare peers. Its enterprise value to EBITDA ratio is 11.9x, compared to the 12.0x median for US-listed Healthcare peers, while its price-to-book ratio is 1.3x. Over the past 1 year, Altimmune shares fell 43.4%, compared to a 16.8% return for the S&P 500 (SPY). Over a 5-year period, the stock declined 81.7%, while the S&P 500 gained 83.0%.
What analysts expect
Wall Street analysts hold 7 Strong Buy, 2 Buy, and 1 Hold ratings on Altimmune, with 0 Sell and 0 Strong Sell ratings. The mean price target is $17.11, compared to the last close of $2.20. For the current fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.59 on revenue of $0. Altimmune beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 5, 2026.
Key risks and what to watch
- Trailing twelve-month revenue was only $31,000, leaving the company dependent on its existing cash reserves to support operations.
- Shareholders have experienced substantial dilution, with the share count increasing 344.6% over the past 5 years.
- Short interest represents a notable portion of trading activity, with short percent of float at 23.7%.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this ALT AI stock analysis
This page is an AI-written research summary of Altimmune, Inc. (ALT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: ALT income statement, ALT balance sheet, ALT key metrics, ALT analyst forecast, ALT chart. See the ALT stock overview for the latest quote and news.
ALT AI stock analysis FAQ
Does Altimmune pay a dividend?
No, Altimmune does not pay a dividend. The company generated a net income of -$88.1M in FY2025 and utilizes its liquidity to fund research and clinical trials.
What is Altimmune's net cash position?
As of June 30, 2026, Altimmune held $326.3M in cash and short-term investments alongside $35.7M in total debt, resulting in a net cash balance of $290.6M.
What is the consensus analyst price target for ALT?
The consensus mean price target from analysts is $17.11, representing a 677.8% upside over the last close of $2.20.
What are analysts estimating for Altimmune's FY2026 results?
For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.59 and revenue of $0.