TD Cowen analyst Tyler Van Buren has maintained their bullish stance on IMNM stock, giving a Buy rating on November 7.
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Tyler Van Buren has given his Buy rating due to a combination of factors related to Immunome’s recent financial performance and ongoing clinical trials. The decision to maintain a Buy rating follows an update to the financial model after the company’s third-quarter earnings report, where expense estimates were adjusted to better align with the costs associated with the Phase III varegacestat trial and the Phase I IM-1021 (ROR1 ADC) trial.
These trials are significant as they represent key developments in Immunome’s pipeline, potentially leading to future growth and value creation. The strategic alignment of expenses with these trials suggests a focused approach to advancing their clinical programs, which could enhance the company’s prospects and justify the Buy rating.
According to TipRanks, Van Buren is a 4-star analyst with an average return of 8.2% and a 50.52% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics, Gilead Sciences, and Summit Therapeutics.
In another report released on November 7, Piper Sandler also maintained a Buy rating on the stock with a $21.00 price target.