Immunome climbs as Stifel initiates coverage
IMNM•Immunome shares rose 1.85% premarket after Stifel initiated coverage with a hold rating and a $24 price target, implying 11.6% upside to the last close. Stifel said the experimental drug varegacestat has similar effectiveness, pain relief and convenience to SpringWorks’ approved Ogsiveo, while Immunome’s targeted cancer drugs need more clinical results.
1. Stifel starts coverage
Stifel initiated coverage of Immunome with a hold rating and a $24 price target. The brokerage said varegacestat, an experimental desmoid-tumor drug, hardly differs from rival SpringWorks’ approved Ogsiveo in effectiveness, pain relief and convenience; it said Immunome’s advanced targeted cancer drugs, led by IM-1021, show promise but need more clinical results.
