Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Invivyd (IVVD – Research Report). The associated price target remains the same with $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including Invivyd’s promising financial results and strategic advancements. The company demonstrated significant momentum in the launch of PEMGARDA, a monoclonal antibody for COVID-19 prevention, with a 48% increase in net revenue in the fourth quarter of 2024, reaching $14 million. This growth reflects increased prescriber adoption and renewed confidence following the resolution of previous regulatory confusions.
Furthermore, Invivyd’s pipeline progress with the next-generation candidate VYD2311, which shows a 17-fold improved potency over PEMGARDA, is a key factor in the positive outlook. The potential for long-acting, patient-friendly dosing with VYD2311, along with anticipated regulatory feedback and additional data, are expected to drive investor interest. The company’s path to profitability by mid-2025, supported by a dedicated in-house sales force and a significant market need for effective prophylaxis in immunocompromised populations, further strengthens the Buy recommendation.