Immunome price target raised to $33 from $25 at Stephens

Stephens raised the firm’s price target on Immunome (IMNM) to $33 from $25 and keeps an Overweight rating on the shares ahead of the company presenting top-line data from their Phase 3 RINGSIDE Part B program of varegacestat for the treatment of desmoid tumors by year-end. Based varegacestat having demonstrated a best-in-class overall response rate and safety profile in Phase 2, the firm has bolstered conviction in the asset’s longer-term potential in competing against the current standard of care and revised its peak penetration estimates, the analyst tells investors.