Leerink Partners analyst Andrew Berens has maintained their bullish stance on IMNM stock, giving a Buy rating today.
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Andrew Berens has given his Buy rating due to a combination of factors that highlight Immunome’s promising outlook. The recent success of the Phase 3 RINGSIDE trial for varegacestat in treating desmoid tumors demonstrated superior efficacy and safety compared to existing treatments, such as Merck KGaA’s Ogsiveo. This positions varegacestat as a best-in-class option, potentially unlocking a significant revenue opportunity estimated at $780 million.
Furthermore, Immunome’s management has a proven track record in commercial execution, which is crucial as the company prepares for the commercial launch of varegacestat. The positive trial results have increased confidence in the management’s ability to successfully execute this launch, as well as future developments, such as the ROR1 ADC (IM-1021) data expected in 2026. These factors have led to an increase in the probability of success for varegacestat in desmoid tumors, prompting an increase in the price target to $40.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $40.00 price target.