Bank of America Securities analyst Alec Stranahan maintained a Buy rating on Immatics yesterday and set a price target of $12.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Alec Stranahan has given his Buy rating due to a combination of factors including the promising data from Immatics’ bispecifics, IMA402 and IMA401. IMA402 has shown a significant confirmed objective response rate in heavily pretreated melanoma patients, surpassing standard of care options. Its median progression-free survival also exceeds that of existing treatments, suggesting potential for use in earlier lines of therapy. The ease of manufacturing and combining IMA402 with standard care, along with its suitability for patients outside specialized centers, further supports its advancement.
Additionally, the safety profile of IMA402 is compelling, with no grade 3 or higher cytokine release syndrome observed at recommended doses, boosting confidence in its ongoing development. The planned phase 1b trials aim to explore its efficacy further, both as a standalone treatment and in combination with immune checkpoint inhibitors. Meanwhile, IMA401’s safety and response data also support its potential, particularly in combination with IMA402, given the overlap in their target patient populations. These factors collectively underpin Stranahan’s positive outlook on Immatics’ stock.