Bubble or no bubble, this is the best stock for AI exposure: analyst
Investing.com - Guggenheim raised its price target on Immatics (NASDAQ:IMTX) to $19.00 from $16.00 on Tuesday, while maintaining a Buy rating on the stock following recent clinical updates and third-quarter earnings.
The research firm cited "highly positive" data from Immatics’ IMA402 PRAME bispecific program, along with more incremental results from the IMA401 MAGEA4/8 bispecific data and anzu-cel update in metastatic uveal melanoma.
Immatics is on track to release additional Phase 1a clinical data for its IMA203CD8 next-generation PRAME TCR T cell therapy at the ESMO I-O conference on December 11, according to Guggenheim’s report.
The firm highlighted investor focus remains on the pivotal Phase 3 SUPRAME study evaluating anzu-cel in second-line and beyond metastatic cutaneous melanoma, which is expected to report interim and final progression-free survival data in 2026.
Immatics ended the third quarter with $506 million in cash and cash equivalents, providing runway into the second half of 2027, with Guggenheim’s model now including probability-adjusted estimates for IMA402 in melanoma and ovarian cancer at 25% probability of success.
In other recent news, Immatics has caught the attention of multiple analyst firms following its latest developments. Mizuho reiterated its Outperform rating and maintained a $16.00 price target after Immatics reported its second-quarter 2025 financial results. The firm noted the company’s growing focus on PRAME-targeting assets, specifically highlighting strong data for its lead asset, IMA203. Jefferies also raised its price target for Immatics to $24.00 from $20.00, citing strong clinical data for its next-generation TCR bispecific therapies, IMA402 and IMA401. Meanwhile, BofA Securities increased its price target to $14.00 from $12.00, acknowledging the strength of Immatics’ PRAME franchise, boosted by recent bispecific data. These developments underscore the positive sentiment from analysts regarding Immatics’ strategic direction and clinical progress.
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