Matthew Caufield, an analyst from H.C. Wainwright, reiterated the Buy rating on Immunic (IMUX – Research Report). The associated price target remains the same with $10.00.
Matthew Caufield’s rating is based on the promising potential of Immunic’s lead candidate, vidofludimus calcium (IMU-838), particularly in treating progressive multiple sclerosis (PMS). The upcoming Phase 2 CALLIPER trial results are anticipated to be a significant catalyst, focusing on neuroprotection and disease progression independent of relapse activity. The dual mechanism of action, involving neuroprotection through Nurr1 activation and relapse prevention via DHODH inhibition, sets vidofludimus calcium apart from traditional MS therapies that primarily target relapse prevention with broad immunosuppression.
Furthermore, the positive interim analysis from the Phase 3 ENSURE program for relapsing MS (RMS) adds to the optimism, as it passed futility testing without sample size modifications. The completed Phase 2 CALLIPER interim biomarker analysis in PMS patients showed NfL reduction, which could correlate with a positive impact on brain volume change. These factors, combined with the successful Phase 2 EMPhASIS trial in relapsing-remitting MS, support the potential for vidofludimus calcium to address unmet needs in MS treatment, justifying the Buy rating.
In another report released on April 1, Leerink Partners also reiterated a Buy rating on the stock with a $5.00 price target.