TD Cowen analyst Tyler Van Buren has reiterated their bullish stance on IMNM stock, giving a Buy rating yesterday.
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Tyler Van Buren’s rating is based on the promising potential of Immunome’s varegacestat, a gamma secretase inhibitor currently in Phase III development for desmoid tumors. The drug has shown strong efficacy in Phase II trials, with a high overall response rate and significant reductions in tumor size and volume.
The anticipated Phase III data, expected by year-end, could further solidify varegacestat’s best-in-class status, potentially leading to substantial value creation for Immunome. Additionally, the strategic acquisition of this asset at a relatively low upfront cost positions the company well for future growth, contributing to the Buy rating.
In another report released yesterday, LifeSci Capital also initiated coverage with a Buy rating on the stock with a $20.00 price target.