Bubble or no bubble, this is the best stock for AI exposure: analyst
Investing.com - Jefferies raised its price target on Immatics (NASDAQ:IMTX) to $24.00 from $20.00 on Thursday, while maintaining a Buy rating on the stock. This new target represents a potential 125% upside from the current price of $10.67, with the stock already trading near its 52-week high of $11.25.
The price target increase follows Immatics’ presentation of proof-of-concept data for its next-generation TCR bispecific therapies IMA402 (PRAME) and IMA401 (MAGEA4/8). According to InvestingPro data, the company has a strong financial health score despite not being profitable over the last twelve months, with current assets significantly exceeding short-term obligations (current ratio of 8.8).
According to Jefferies, the clinical data showed a strong profile with efficacy exceeding expectations, including a 30% confirmed overall response rate with IMA402, along with a favorable safety profile.
The firm noted these results could position Immatics’ therapies for first-line treatment and combination strategies across broader opportunities.
Immatics shares have gained more than 80% since September, outperforming the XBI biotech index which rose approximately 20% during the same period, driven by continued execution and attention to its Anzu-cel PRAME cell therapy data presented at an ESMO presidential symposium.
In other recent news, Mizuho has reiterated its Outperform rating on Immatics, maintaining a price target of $16.00. This decision follows the company’s second-quarter 2025 financial results, which were reported last week. The research firm expressed continued optimism regarding Immatics, particularly emphasizing the company’s focus on its PRAME-targeting assets. Notably, Immatics’ lead asset, IMA203 (anzu-cel), showed promising data at the ASCO conference in June. Mizuho’s analysis suggests a positive outlook for the company’s future developments. These recent updates highlight Immatics’ strategic direction and potential growth in the biotech sector. Investors may find the reiterated rating indicative of confidence in the company’s ongoing projects.
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