LifeSci Capital analyst Charles Zhu has maintained their bullish stance on IMNM stock, giving a Buy rating on March 20.
Charles Zhu has given his Buy rating due to a combination of factors that highlight Immunome’s promising prospects. The company has recently confirmed its IND submission for IM-3050, paving the way for a Phase 1 clinical trial expected to commence in the second half of 2025. This development, along with the anticipated topline data from the Phase 3 RINGSIDE Part B study of varegacestat in desmoid tumors, underscores the potential for significant advancements in their pipeline.
Furthermore, Immunome’s management has expressed optimism regarding the commercial potential of their lead programs, particularly if the data replicates previous successful results. The initiation of a Phase 1 trial for their ROR1 ADC, with a higher starting dose than similar trials, also indicates a strategic approach to expedite development and reduce costs. With a solid financial position, including substantial cash reserves and recent financing, Immunome is well-positioned to sustain its operations and pursue its clinical objectives, supporting the Buy recommendation.
According to TipRanks, Zhu is an analyst with an average return of -12.1% and a 31.11% success rate. Zhu covers the Healthcare sector, focusing on stocks such as Merus, Mersana Therapeutics, and Zymeworks.
In another report released on March 20, Piper Sandler also maintained a Buy rating on the stock with a $21.00 price target.