Altimmune price target lowered to $13 from $18 at B. Riley

B. Riley lowered the firm’s price target on Altimmune (ALT) to $13 from $18 and keeps a Buy rating on the shares. Altimmune’s Q4 update highlights pemvidutide as a differentiated MASH asset entering Phase 3, supported by a strengthened balance sheet and leadership, the analyst tells investors in a research note. Near-term catalysts include Phase 2 RECLAIM AUD topline data in 3Q26 and a well-aligned Phase 3 registrational design under Subpart-H, with $340M pro-forma cash providing a strong runway, making the recent 18% intraday sell-off appear largely overdone, the firm says.