Analyst Patrick Trucchio from H.C. Wainwright maintained a Buy rating on Invivyd (IVVD – Research Report) and decreased the price target to $5.00 from $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Invivyd’s strategic positioning and growth potential. The company is showing signs of operational stabilization and expanding its pipeline beyond COVID-19, as evidenced by its recent activities and management’s strategic priorities discussed at the HCW BioConnect Conference. Despite initial setbacks with the launch of PEMGARDA, Invivyd’s management remains confident in achieving non-GAAP profitability by mid-2025, with early signs of commercial reacceleration under its internal sales force.
Moreover, the upcoming Phase 1 data release for their next-generation mAb candidate and new discovery programs in measles and RSV suggest a transition to a broader infectious disease platform. Although the price target was adjusted to $5 due to a revenue shortfall, the Buy rating is maintained, reflecting multiple potential catalysts for near-term value creation, including expanding commercial reach and integration into key clinical guidelines.