Leerink Partners analyst Andrew Berens maintained a Buy rating on Immunome on August 6 and set a price target of $38.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Berens has given his Buy rating due to a combination of factors related to Immunome’s promising pipeline and financial position. The company’s pivotal Phase 3 RINGSIDE trial for varegacestat in desmoid tumors is on track, showing higher response rates compared to a competitor’s treatment, which suggests potential market differentiation and success.
Additionally, the ongoing development of IM-1021 in advanced B-cell lymphomas and solid tumors, along with the advancement of three novel ADCs incorporating proprietary technology, indicates a robust and innovative pipeline. Immunome’s financial stability, with cash reserves extending into 2027, further supports the Buy rating as it provides the company with the resources needed to continue its research and development efforts.
Berens covers the Healthcare sector, focusing on stocks such as Incyte, AstraZeneca, and Cogent Biosciences. According to TipRanks, Berens has an average return of 1.5% and a 42.39% success rate on recommended stocks.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $22.00 price target.