Immuneering: Phase 2a Strength of Atebimetinib in First-Line Pancreatic Cancer Supports Buy Rating Despite Competitive Overhang

Ami Fadia, an analyst from Needham, reiterated the Buy rating on Immuneering. The associated price target remains the same with $11.00.

Ami Fadia has given his Buy rating due to a combination of factors related to atebimetinib’s emerging clinical profile in first-line pancreatic cancer and its potential to outperform current standard of care. She highlights that the Phase 2a data in 1L PDAC patients show a meaningful improvement in median progression‑free survival compared with gemcitabine plus nab‑paclitaxel, alongside a notably higher 12‑month overall survival rate. The drug’s safety and tolerability are described as favorable, which strengthens the case for its use in a setting where patients are often frail and treatment-limiting toxicities are common. These results collectively support the company’s plan to move into a Phase 3 trial, targeted to begin around mid‑2026, and suggest a clinically and commercially significant opportunity if outcomes are replicated in a larger study.

At the same time, Fadia acknowledges that recent share price weakness reflects investor concerns about how clearly atebimetinib can differentiate itself from Revolution Medicines’ daraxonrasib. While atebimetinib appears to have an advantage on safety, current progression‑free survival in 1L is roughly comparable to what daraxonrasib has shown as monotherapy in second‑line disease, implying that a definitive efficacy comparison will depend on more mature overall survival data from both programs. She expects an additional Phase 2a update with a larger patient cohort in the first half of 2026, which could further clarify the asset’s profile and support the valuation. Taken together, the encouraging efficacy signals versus standard of care, solid safety, and clear path to a pivotal trial underpin her positive stance and justify a Buy recommendation on Immuneering shares despite competitive uncertainties.

According to TipRanks, Fadia is a 5-star analyst with an average return of 26.3% and a 54.22% success rate. Fadia covers the Healthcare sector, focusing on stocks such as Praxis Precision Medicines, Alkermes, and Jazz Pharmaceuticals.

In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $12.00 price target.