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

B. Riley raised the firm’s price target on Altimmune to $15 from $8 and keeps a Buy rating on the shares. The analyst sees increasingly constructive investor sentiment on the competitive positioning of Altimmune’s lead dual glucagon/GLP-1 agonist, pemvidutide, following the recent Phase IIb 48-week obesity dataset. The firm cites the late-stage stage obesity non-diabetes program de-risking for the target raise and sees room for further upside derived from the catalyst roadmap in nonalcoholic steatohepatitis.