In a report released today, Ami Fadia from Needham reiterated a Buy rating on Immuneering (IMRX – Research Report), with a price target of $20.00.
Ami Fadia has given his Buy rating due to a combination of factors surrounding the recent developments in Immuneering’s drug IMM-1-104. The determination of the recommended phase 2 dose (RP2D) at 320mg daily was particularly noteworthy, as it aligns with the highest dose tested without raising new safety concerns. This is significant when considering the safety issues that first-generation MEK inhibitors faced during early trials, which in turn impacted their dosing and effectiveness.
The anticipation of top-line data from the phase 1 segment of the IMM-1-104 phase 1/2a trial, expected in March 2024, also plays a role in the positive rating. Fadia sees a favorable risk-reward scenario for this forthcoming data, suggesting confidence in the potential for Immuneering’s drug candidate to demonstrate both efficacy and safety at this stage of development. This optimism, based on Immuneering’s progress and milestones, underpins the Buy recommendation.
In another report released on March 4, Mizuho Securities also maintained a Buy rating on the stock with a $20.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Immuneering (IMRX) Company Description:
Immuneering Corpbiopharmaceutical company. It is focused on improving patient outcomes across a spectrum of debilitating oncologic and neurologic diseases by applying deep knowledge of translational bioinformatics to every stage of the drug development process. The company’s proprietary computational Disease Cancelling Technology platform enables Immuneering’s drug discovery programs. The company also provides unparalleled computational biology capabilities to leading pharmaceutical and biotechnology companies.
Read More on IMRX:
- Immuneering Doses First Patient in Phase 2a Clinical Trial of IMM-1-104 in RAS-mutant Solid Tumors
- Immuneering to Present Preclinical Data on Universal-RAS Program IMM-1-104 at American Association for Cancer Research Annual Meeting 2024
- Immuneering announces near-term milestone expectations
- Immuneering expects cash to fund operations into 2H25
- Immuneering reports Q4 EPS (52c), consensus (47c)
