LifeSci Capital analyst Charles Zhu maintained a Buy rating on Immunome today and set a price target of $20.00.
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Charles Zhu has given his Buy rating due to a combination of factors that highlight Immunome’s promising developments and financial stability. The company has made significant progress in its Phase 1 trial of the ROR1-targeted ADC, reaching the third dose level, which suggests a positive trajectory in its clinical trials. This progress, coupled with the FDA’s apparent support reflected in the dosing strategy, indicates a strong potential for successful outcomes in their ongoing studies.
Furthermore, Immunome’s management has expressed optimism about their RINGSIDE data, with plans for a topline readout by the end of the year, indicating confidence in their clinical advancements. Financially, the company is in a robust position with $268 million in cash and equivalents, providing a cash runway into 2027, which underscores their ability to sustain operations and fund future developments. These factors combined suggest a favorable outlook for Immunome, justifying the Buy rating.