Analyst Ami Fadia from Needham maintained a Buy rating on Immuneering and keeping the price target at $8.00.
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Ami Fadia has given her Buy rating due to a combination of factors that highlight Immuneering’s strategic advancements and promising clinical developments. The recent clinical supply agreement with Lilly to evaluate atebimetinib in combination with olomorasib in a Phase 2 study for NSCLC patients with KRAS G12C mutation is a significant milestone. This collaboration, along with a similar agreement with Regeneron for Libtayo, underscores Immuneering’s potential in developing effective cancer therapies.
Preclinical data supporting these combinations have shown improved efficacy, which strengthens the mechanistic rationale for using atebimetinib in RAS-mutated patients. The anticipation of updated Phase 2 data in the coming years, particularly regarding overall survival and progression-free survival rates, further supports the positive outlook on the stock. These strategic partnerships and promising data contribute to a favorable investment perspective, justifying the Buy rating.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IMRX in relation to earlier this year.