Analyst Andrew Berens from Leerink Partners maintained a Buy rating on Immunome (IMNM – Research Report) and keeping the price target at $38.00.
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Andrew Berens has given his Buy rating due to a combination of factors surrounding Immunome’s promising pipeline and financial health. The company’s lead asset, varegacestat, has shown promising Phase 2 results in treating desmoid tumors, with an observed objective response rate (ORR) that surpasses the current FDA-approved treatment, Ogsiveo, despite a smaller sample size. This positions Immunome favorably in a market that has recently garnered significant investor interest.
Additionally, Immunome is advancing multiple assets through various stages of development, including a Phase 1 trial for IM-1021 in advanced B-cell lymphomas and solid tumors, and preparations for a Phase 1 trial for IM-3050. The company is also progressing three novel antibody-drug conjugates (ADCs) through IND-enabling studies. Financially, Immunome is well-positioned with $317.3 million in cash and equivalents, providing a runway into 2027, which supports continued development and potential future growth.
In another report released yesterday, D. Boral Capital also maintained a Buy rating on the stock with a $17.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IMNM in relation to earlier this year.