BofA update shows where active managers are putting money
Investing.com - Raymond (NSE:RYMD) James has reiterated its Market Perform rating on INmune Bio Inc. (NASDAQ:INMB), currently trading near $2.81, following the company’s announcement of positive clinical trial results. According to InvestingPro data, three analysts have recently revised their earnings upward for the upcoming period, with price targets ranging from $0.60 to $8.00.
INmune Bio successfully completed its Phase 1/2 CaRe PC trial evaluating INKmune in patients with metastatic castration-resistant prostate cancer (mCRPC), meeting both primary and secondary endpoints with a solid safety profile and promising signs of immunologic and tumor responses.
The trial utilized a Bayesian dose-escalation design across three ascending dose cohorts, identifying patients with low baseline NK cell activation as the optimal target population for future development. With enrollment now closed, INmune Bio is preparing to initiate a randomized Phase 2b trial in a less advanced mCRPC population.
Raymond James noted that while the INKmune program shows progress, investor focus remains primarily on the company’s XPro program in Alzheimer’s, which produced disappointing Phase 2 data in late June.
The research firm highlighted INmune Bio’s limited financial resources, with approximately $38 million in cash following a June 27 registered direct offering, providing about 12 months of runway, and expects the company to seek partners to advance its various programs including INKmune.
In other recent news, INmune Bio Inc. announced that its Phase I/II trial of INKmune™ in metastatic castration-resistant prostate cancer met both primary and secondary endpoints. The trial demonstrated an excellent safety profile across all dose levels, with significant improvements in biomarkers for patients with low natural killer cell activation. Meanwhile, INmune Bio plans to present additional analyses from its Phase 2 MINDFuL trial of XPro for Alzheimer’s disease at an upcoming conference. However, the Alzheimer’s trial results were mixed, leading Lucid (NASDAQ:LCID) Capital Markets to downgrade the company’s stock from Buy to Neutral. Lucid Capital also reduced its price target from $25.00 to $2.00. The trial did not meet its primary endpoint in the full cohort, although there was potential benefit observed in a specific subpopulation. Following these results, Raymond James also downgraded INmune Bio from Outperform to Market Perform. The Phase 2 study for XPro failed to achieve its primary endpoint concerning cognitive function in early Alzheimer’s patients.
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