Immunome price target raised to $40 from $38 at Leerink

Leerink raised the firm’s price target on Immunome (IMNM) to $40 from $38 and keeps an Outperform rating on the shares. Varegacstat Phase 3 success has moved the firm’s investment thesis ringside for commercial launch and execution, where management has as strong track record of success, and opens the door for a pipeline unveiling, the analyst tells investors in a research note. The firm added that while longer-term treatment duration for the varegacestat class remains an outstanding commercial question, it believes the new data unlock a roughly $780M peak revenue opportunity.