Deutsche Bank initiated coverage of Immatics (IMTX) with a Buy rating and $10 price target The firm likes the company’s setup to tackle cutaneous melanoma. Immatics’ TCR-based therapies have produced “mixed” clinical results in early- and mid-stage trials to date, which has the shares are trading at around cash levels, the analyst tells investors in a research note. However, Deutsche believes IMA203 may have a place in serving the unmet second-line cutaneous melanoma population, particularly if it can generate a 75% one-year overall survival rate from the pivotal Phase 3 SUPRAME trial data expected late 2026.
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