Analyst Jason McCarthy from Maxim Group maintained a Buy rating on Immutep and keeping the price target at $12.00.
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Jason McCarthy has given his Buy rating due to a combination of factors, primarily centered around the promising developments in Immutep’s clinical trials. The company’s pivotal Phase 3 TACTI-004 study, which involves the combination of eftilagimod alpha with Keytruda and chemotherapy for first-line treatment of non-small cell lung cancer (NSCLC), has reached a significant enrollment milestone. This progress suggests a positive trajectory for the trial, which is further supported by the upcoming futility analysis that could act as a catalyst for the stock.
Immutep’s lead asset, eftilagimod alpha, is designed to enhance the immune response against tumors by activating antigen-presenting cells. This innovative approach differentiates it from other immune checkpoint inhibitors, potentially offering a unique therapeutic advantage. Additionally, the valuation model for Immutep considers various cancer indications, with a calculated price target reflecting a balanced assessment of clinical trial risks and potential revenue. These elements collectively underpin McCarthy’s optimistic outlook on Immutep’s stock.
McCarthy covers the Healthcare sector, focusing on stocks such as OS Therapies Incorporated, Atossa Therapeutics, and SCYNEXIS. According to TipRanks, McCarthy has an average return of -11.6% and a 38.63% success rate on recommended stocks.