Jeet Mukherjee, an analyst from BTIG, maintained the Buy rating on Innate Pharma. The associated price target is $8.00.
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Jeet Mukherjee has given his Buy rating due to a combination of factors tied to Innate Pharma’s diversified oncology pipeline and upcoming value inflection points. He highlights monalizumab, partnered with AstraZeneca in unresectable NSCLC, as the core value driver, citing strong phase 2 data versus durvalumab alone and the high‑impact phase 3 PACIFIC‑9 readout expected in the second half of 2026.
He also points to IPH4502’s differentiated Nectin‑4 ADC profile and its potential in patients previously treated with Padcev or with low Nectin‑4 expression, where positive phase 1 data could unlock financing and accelerated‑approval pathways. While acknowledging that cash runway only extends to the third quarter of 2026 and lacutamab’s phase 3 program awaits funding, he views additional unmodeled assets and sizeable milestone and commercial payment potential from AstraZeneca as reinforcing the upside that justifies an $8 price target and Buy recommendation.