Altimmune price target lowered to $8 from $15 at B. Riley

B. Riley lowered the firm’s price target on Altimmune (ALT) to $8 from $15 and keeps a Buy rating on the shares. Altimmune’s Q3 earnings call focused on late November/early December Phase II MOMENTUM top-line 48-week data in obesity patients poised to build on pemvidutide’s 24-week interim weight loss data demonstrating superiority to NovoNordisk’s (NVO) semaglutide, and management’s commentary consistent in guiding for pemvi to reach mid-teens percentage weight loss falling between sema/tirz’s ~12%/~18%, the analyst tells investors in a research note.