Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Immunome, retaining the price target of $20.00.
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Charles Zhu has given his Buy rating due to a combination of factors including the promising progress of Immunome’s pipeline and the management’s confidence in their key projects. The company’s gamma secretase inhibitor, varegacestat, is on track for a Phase 3 topline data release by the end of 2025, which is a significant milestone. Management is optimistic about the drug’s potential to meet its primary endpoint and emphasizes its clinically relevant metrics that could differentiate it from competitors.
Additionally, the safety profile of varegacestat is promising, with a median time-on-therapy of over 23 months, suggesting long-term patient adherence. The ROR1 ADC IM-1021 is another area of focus, with management confident in its potential due to prior data and the opportunity to enhance its therapeutic window. These factors, combined with the company’s innovative approaches in overcoming drug resistance, contribute to Zhu’s positive outlook on Immunome’s stock.
In another report released on September 23, Evercore ISI also maintained a Buy rating on the stock with a $18.00 price target.