Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on IMTX stock, giving a Buy rating on March 28.
Jonathan Chang has given his Buy rating due to a combination of factors including the promising progress in Immatics’ pipeline and its strong financial position. The company has made significant advancements in its TCR cell therapies, particularly with the IMA203 and IMA203CD8 programs, which are progressing through clinical trials with encouraging data updates expected later this year. Additionally, the bispecifics segment, including IMA402 and IMA401, is showing positive developments with ongoing dose escalation studies and anticipated data releases.
Immatics’ financial health is also a contributing factor, with the company ending the fourth quarter of 2024 with $628 million in cash and equivalents, providing a cash runway into the second half of 2027. This financial stability, combined with the company’s leadership in TCR therapeutics and an attractive valuation, supports the Buy rating. Overall, the broad platform encompassing both TCR T-cell therapy and bispecifics positions Immatics as a strong player in the field.
Chang covers the Healthcare sector, focusing on stocks such as Replimune Group, Kura Oncology, and Mersana Therapeutics. According to TipRanks, Chang has an average return of -11.7% and a 29.02% success rate on recommended stocks.
In another report released on March 28, Bank of America Securities also maintained a Buy rating on the stock with a $13.00 price target.