Immatics: Promising Pipeline and Financial Stability Drive Buy Rating

Leerink Partners analyst Jonathan Chang reiterated a Buy rating on Immatics (IMTX – Research Report) on May 13 and set a price target of $18.00.

Jonathan Chang has given his Buy rating due to a combination of factors that highlight Immatics’ promising pipeline and financial stability. Immatics has shown significant progress in its cell therapy and TCR bispecific franchises, with multiple data updates expected in 2025. The company’s upcoming presentations, particularly the Phase Ib data for IMA203 in metastatic melanoma at the ASCO 2025 Annual Meeting, are anticipated to provide substantial insights into their therapeutic advancements.
Additionally, Immatics maintains a strong financial position with $588.1 million in cash and equivalents, ensuring a cash runway into the second half of 2027. The company’s strategic milestones, including the completion of enrollment for the Phase III SUPRAME trial and various data disclosures across its pipeline, reinforce its leadership in TCR therapeutics. These factors collectively support Chang’s positive outlook and Buy rating for Immatics.

In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $13.00 price target.