Immunome, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on the stock and has a $40.00 price target.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Charles Zhu has given his Buy rating due to a combination of factors, primarily focusing on the promising results from Immunome’s Phase 3 RINGSIDE trial for varegacestat. The trial data indicates that varegacestat significantly outperforms nirogacestat, the current standard, in treating desmoid tumors. Key metrics such as the objective response rate and tumor volume reduction were notably superior, suggesting a strong potential for varegacestat to become the preferred gamma secretase inhibitor.
Additionally, the safety profile of varegacestat appears favorable, with lower rates of adverse effects compared to nirogacestat. The convenience of once-daily dosing further enhances its appeal. Immunome’s strategic plans for commercial launch, targeting key centers and exploring global partnerships, underscore the drug’s market potential. These factors collectively support Charles Zhu’s optimistic outlook and Buy rating for Immunome’s stock.
According to TipRanks, Zhu is a 5-star analyst with an average return of 28.0% and a 67.30% success rate. Zhu covers the Healthcare sector, focusing on stocks such as Kura Oncology, Zymeworks, and IDEAYA Biosciences.
In another report released on December 4, Craig-Hallum also maintained a Buy rating on the stock with a $26.00 price target.