Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Invivyd, retaining the price target of $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors, including Invivyd’s strategic advancements and financial positioning. The company has shown promising growth in PEMGARDA revenues, which increased by 41% year-over-year and 11% sequentially, driven by heightened market awareness and strong uptake among key medical professionals.
Additionally, the FDA clearance of the investigational new drug application for VYD2311 and the initiation of the pivotal Phase 3 REVOLUTION program indicate a clear regulatory path forward. Invivyd’s robust cash position, bolstered by recent fundraising, supports its capacity to advance these programs and address unmet needs in COVID-19 prevention. These elements collectively underpin Trucchio’s confidence in Invivyd’s commercial and regulatory trajectory, justifying the Buy rating and a $10 price target.
In another report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $10.00 price target.