Immutep Buy Rating Justified by Strong Clinical Trial Results and Promising Future Prospects

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Immutep (IMMP – Research Report), with a price target of $10.00.

Jason McCarthy has given his Buy rating due to a combination of factors surrounding Immutep’s recent clinical trial outcomes and future prospects. The positive preliminary data from the TACTI-003 Phase 2b trial showed a significant improvement in overall response and disease control rates in patients with negative PD-L1 expression when treated with Immutep’s eftilagimod alpha in combination with Keytruda. This represents a roughly fivefold increase compared to historical controls, indicating a substantial enhancement in efficacy which could be a major catalyst for the stock’s performance.

Furthermore, the ongoing developments in other late-stage trials, such as the AIPAC-003 Phase 2/3 trial in metastatic breast cancer, have also shown promising results, adding to the potential for Immutep’s pipeline. The anticipation of additional data releases and the potential for increased response rates in the remaining patients provide a robust foundation for McCarthy’s optimistic perspective on the company’s stock. The combination of these factors contributes to the Buy rating, reflecting expectations of continued positive developments and a strong investment case for Immutep.

McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inmune Bio, and Atossa Therapeutics. According to TipRanks, McCarthy has an average return of -18.4% and a 27.36% success rate on recommended stocks.

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Immutep (IMMP) Company Description:

Immutep Ltd. is a biotechnology company, which engages in the research and development of immunotherapeutic treatments for cancer and autoimmune diseases. Its product is IMP321, which involves in clinical development for the treatment of breast cancer and melanoma. The company was founded on May 21, 1987 and is headquartered in Sydney, Australia.