Capital One Financial analyst Naureen Quibria has assigned their bullish stance on IMMP stock, giving a Buy rating on May 2.
Naureen Quibria has given his Buy rating due to a combination of factors that underscore the potential of Immutep’s lead drug candidate, eftilagimod alpha (efti). This drug is being evaluated across multiple oncology indications, showing promising results, particularly in improving median overall survival rates in non-small cell lung cancer (NSCLC) when combined with pembrolizumab. The data suggests that efti may work effectively in a broader range of patients compared to current therapies, which could position it as a preferred combination treatment in various cancer types. Additionally, the potential peak sales for efti are conservatively estimated to be substantial by 2040, highlighting the financial opportunity for Immutep’s lead product.
The company’s valuation and Quibria’s optimistic price target are supported by a weighted average of diverse valuation methodologies, including discounted cash flow and sum-of-the-parts analysis. Immutep is also poised to capitalize on the total addressable market for blockbuster drugs, given the significant sales figures of similar treatments in the field. Furthermore, there are upcoming catalysts that could further validate efti’s value proposition and provide momentum for the stock. With multiple clinical trials underway and an autoimmune program in development, Immutep is considered to have considerable upside potential, justifying the Buy rating and a notable increase in the stock’s target price.
Quibria covers the Healthcare sector, focusing on stocks such as ADC Therapeutics, Fennec Pharmaceuticals, and Olema Pharmaceuticals. According to TipRanks, Quibria has an average return of -24.2% and a 19.83% success rate on recommended stocks.
In another report released on May 2, Robert W. Baird also maintained a Buy rating on the stock with a $7.00 price target.
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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.
