H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Invivyd (IVVD – Research Report) today and set a price target of $5.00.
Patrick Trucchio has given his Buy rating due to a combination of factors in relation to Invivyd’s ongoing developments and future prospects. Primarily, the focal point is the company’s progressive Phase 3 trial for VYD222, a therapeutic candidate in the fight against COVID-19. This monoclonal antibody is being evaluated for its potential in preventing symptomatic COVID-19 in vulnerable populations, particularly the immunocompromised. The trial is fully enrolled and initial primary endpoint and safety data is anticipated by late 2023 or early 2024, with an emergency use authorization (EUA) filing to the FDA to follow.
Moreover, Trucchio sees potential in the drug’s underappreciated capability in preventing severe COVID-19 outcomes. The company is also preparing for a commercial launch in anticipation of FDA approval in 2024. The trial has a high probability of success due to the lack of therapeutic alternatives for the immunocompromised patient population that VYD222 aims to serve. This, combined with the company’s expectations that correlates of protection will form the basis for EUA approval, has led Trucchio to maintain a Buy rating and a $5 price target on IVVD shares.
Trucchio covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Immunocore Holdings, and Precision BioSciences. According to TipRanks, Trucchio has an average return of -20.1% and a 26.12% success rate on recommended stocks.
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Invivyd (IVVD) Company Description:
Adagio Therapeutics Inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential. The company’s lead product candidate, ADG20 is developed for the treatment and prevention of coronavirus disease 2019, or COVID-19, the disease caused by the virus SARS-CoV-2 and its variants.
Read More on IVVD:
- Invivyd Reports Third Quarter 2023 Financial Results and Recent Business Highlights
- Invivyd to Host Conference Call Discussing Third Quarter 2023 Financial Results and Business Highlights
- Invivyd to Participate in Upcoming Investor Conferences
- Invivyd Announces Dosing of First Participant in CANOPY Phase 3 Pivotal Clinical Trial Investigating VYD222 for the Prevention of Symptomatic COVID-19
- Invivyd announces dosing of first patient in CANOPY Phase 3 trial
