Mizuho reiterates Outperform rating on Immatics stock following Q2 results

Investing.com - Mizuho (NYSE:MFG) has reiterated an Outperform rating and $16.00 price target on Immatics (NASDAQ:IMTX) following the company’s second-quarter 2025 financial results reported last week. According to InvestingPro data, analyst targets for IMTX range from $9 to $20, with a strong consensus buy recommendation.

The research firm expressed continued bullishness on Immatics, highlighting the company’s increasing focus on its PRAME-targeting assets, particularly its lead asset IMA203 (anzu-cel), which presented strong data at the ASCO conference in June. The market has responded positively to these developments, with the stock showing a notable 30.79% return over the past six months.

Mizuho noted that the Phase 3 SUPRAME study in previously treated, advanced melanoma remains on track, with interim and top-line results expected in 2026, and expressed confidence that anzu-cel will maintain what it considers a best-in-class profile.

The firm also pointed to multiple upcoming data readouts in the fourth quarter of 2025, including results for IMA203CD8 PRAME Cell Therapy (a second-generation IMA203), IMA402 (a PRAME bispecific candidate), and IMA401 (a MAGEA4/8 bispecific candidate).

Mizuho cited Immatics’ current valuation as attractive and noted that the company’s cash runway extends until the second half of 2027. InvestingPro analysis supports this view, showing the company holds more cash than debt and maintains strong liquidity with a current ratio of 8.8, though investors should note the company is currently burning through cash rapidly. For deeper insights into Immatics’ financial health and additional ProTips, visit InvestingPro.

In other recent news, Immatics N.V. has announced the scheduling of its annual general meeting, set for June 18, 2025, in Amsterdam, Netherlands. The company has provided shareholders with a convening notice and other relevant documents for the meeting. In terms of analyst activity, Cantor Fitzgerald has reiterated its Overweight rating on Immatics stock. This follows a presentation at the American Society of Clinical Oncology, where updated data on their PRAME TCRT cell therapy IMA203 was showcased. Additionally, Deutsche Bank (ETR:DBKGn) has initiated coverage on Immatics with a Buy rating and set a price target of $10 per share. The firm expressed optimism about Immatics’ approach to treating advanced Cutaneous Melanoma, particularly with the IMA203 product. Deutsche Bank’s analysis is based on a discounted cash flow model, highlighting the potential to address unmet medical needs. These developments reflect growing interest and confidence in Immatics’ ongoing projects and future prospects.

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