Altimmune, Inc. (NASDAQ: ALT)

Sector: Healthcare Industry: Biotechnology CIK: 0001326190
Market Cap 319.97 Mn
P/B 1.72
P/E -3.81
P/S 21,331.66
ROIC (Qtr) -48.15
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 14.45 Mn
Debt/Equity (Qtr) 0.08

About

Altimmune, Inc. (ALT), a clinical-stage biopharmaceutical company, operates in the healthcare sector, specifically focusing on developing treatments for obesity and liver diseases. The company's main business activities involve the research, development, and commercialization of innovative therapeutics. Altimmune operates primarily in the United States, with additional operations in the United Kingdom and South Korea, where it conducts clinical trials for its product candidates. The company generates revenue primarily from the development of its...

Read more

Price action

Investment thesis

Bull case

  • Strong tangible asset base of 218.45M provides 15.12x coverage of total debt 14.45M, indicating robust asset backing and low credit risk.
  • Short-term investments of 149.54M provide solid 19.17x coverage of other current liabilities 7.80M, indicating strong liquidity.
  • Tangible assets of 218.45M provide robust 28x coverage of other current liabilities 7.80M, indicating strong asset backing.
  • Cash reserves of 61.28M provide robust 4.86x coverage of current liabilities 12.61M, indicating strong short-term solvency.
  • Cash reserves of 61.28M provide solid 10.57x coverage of other non-current liabilities 5.79M, indicating strong liquidity.

Bear case

  • Investment activities of (39.68M) provide weak support for R&D spending of 67.80M, which is -0.59x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (66.35M) shows concerning coverage of stock compensation expenses of 14.49M, with a -4.58 ratio indicating potential earnings quality issues.
  • Free cash flow of (66.36M) provides weak coverage of capital expenditures of 10000, with a -6636.20 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (83.83M) show weak coverage of depreciation charges of 119000, with a -704.50 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of (66.36M) represents just -4.65x of debt issuance 14.27M, suggesting concerning reliance on leverage rather than internal cash generation for growth.

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,446.17 Bn -1,569.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 439.23 Bn 6,407.40 88.33 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 120.62 Bn 32.82 10.29 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 84.40 Bn 18.44 5.92 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 56.13 Bn 1,288.39 17.49 3.21 Bn
6 ARGX Argenx Se 47.89 Bn 31.79 24,973.95 -
7 BNTC Benitec Biopharma Inc. 42.45 Bn -1,015.00 0.00 0.00 Bn
8 INSM INSMED Inc 32.67 Bn -27.60 73.08 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.69 12.96
EV to Cash from Ops. EV/CFO -2.28 23.73
EV to Debt EV to Debt 10.46 772.65
EV to EBIT EV/EBIT -1.80 -11.30
EV to EBITDA EV/EBITDA -1.67 7.11
EV to Free Cash Flow [EV/FCF] EV/FCF -2.28 22.12
EV to Market Cap EV to Market Cap 0.47 68.89
EV to Revenue EV/Rev 10,077.33 199.70
Price to Book Value [P/B] P/B 1.72 22.62
Price to Earnings [P/E] P/E -3.81 -12.30
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 -12.02
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.15
Interest Coverage Int. cover (Qtr) -110.16 857.11
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -27.24
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 94.43 747.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 19.66 -48.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 19.05 -2.09
EBIT Growth (1y) % EBIT 1y % (Qtr) 19.01 -57.79
EBT Growth (1y) % EBT 1y % (Qtr) 18.28 -14.35
EPS Growth (1y) % EPS 1y % (Qtr) 31.85 -30.88
FCF Growth (1y) % FCF 1y % (Qtr) 15.05 -32.51
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -68.09 227.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 4.86 3.79
Current Ratio Curr Ratio (Qtr) 17.18 7.23
Debt to Equity Ratio Debt/Equity (Qtr) 0.08 0.42
Interest Cover Ratio Int Coverage (Qtr) -110.16 857.11
Times Interest Earned Times Interest Earned (Qtr) -110.16 857.11
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -558,106.70 -18,509.94
EBIT Margin % EBIT Margin % (Qtr) -558,900.00 -18,862.18
EBT Margin % EBT Margin % (Qtr) -563,973.33 -19,783.19
Gross Margin % Gross Margin % (Qtr) 100.00 -8.62
Net Profit Margin % Net Margin % (Qtr) -559,433.30 -19,732.60