JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Thursday, H.C. Wainwright adjusted its price target for Invivyd Inc. (NASDAQ:IVVD) shares, reducing it to $5.00 from the previous $10.00, while continuing to endorse the stock with a Buy rating. The revision follows a comprehensive review of the company’s strategic priorities and commercial performance, along with discussions with Invivyd’s management and board chairperson. Currently trading at $0.85, the stock has shown remarkable momentum with a 90.86% gain year-to-date, while analyst targets range from $0.80 to $9.00.
At the HCW 3rd Annual BioConnect Conference on May 20, 2025, analysts held a fireside chat with Invivyd’s Chief Scientific Officer Robert Allen and Vice President of Finance Katie Falzone. The conversation covered the company’s short-term execution challenges and its long-term growth potential. Additionally, a separate discussion with Marc Elia, the Chairperson of the Board, focused on strategic priorities.
Despite the initial sales of PEMGARDA (pemivibart) not meeting expectations, Invivyd’s management has confirmed that they are on track to achieve non-GAAP profitability by the end of the first half of 2025. According to InvestingPro data, the company maintains impressive gross profit margins of 93.32% and holds more cash than debt on its balance sheet. They also noted early indications of a commercial rebound, attributed to the company’s fully internalized sales force.
Invivyd is currently anticipating Phase 1 data for their next-generation monoclonal antibody (mAb) candidate, VYD2311, expected later in the quarter. Moreover, the company has announced new discovery programs targeting measles and respiratory syncytial virus (RSV), which are gaining traction. These developments suggest a shift for Invivyd from being solely focused on COVID-19 to establishing itself as a broad-based antibody platform for infectious diseases. For deeper insights into Invivyd’s growth potential and financial health metrics, access the comprehensive Pro Research Report available on InvestingPro.
The price target adjustment to $5.00 is a response to the revenue shortfall reported for the first quarter of 2025. Based on InvestingPro’s Fair Value analysis, the stock appears to be overvalued at current levels, though H.C. Wainwright maintains a Buy rating, citing multiple upcoming potential catalysts that could create near-term value for the company.
In other recent news, Invivyd Inc. reported its first-quarter 2025 earnings, revealing a net product revenue of $11.3 million for its COVID-19 prevention product, PEMGARDA. The company’s earnings per share and revenue fell short of analyst forecasts, despite a 15% reduction in operating expenses. Invivyd aims for profitability by mid-2025, with a strategic focus on expanding its product pipeline. In a significant development, Invivyd’s monoclonal antibody PEMGARDA has been incorporated into the National Comprehensive Cancer Network Clinical Practice Guidelines for B-Cell Lymphomas. This inclusion offers a new preventive option for patients with B-cell malignancies who are at increased risk of severe COVID-19 outcomes. Additionally, Invivyd is advancing the clinical development of its new molecule, VYD2311, and expanding discovery programs in viral prevention. The company continues to monitor and adapt its antibody candidates to address evolving threats. These developments reflect Invivyd’s ongoing efforts to protect against viral infectious diseases.
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