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Investing.com - Jefferies raised its price target on Immuneering Corporation (NASDAQ:IMRX) to $3.50 from $1.50 on Wednesday, while maintaining a Hold rating on the stock. For comprehensive analysis of biotech stocks like IMRX, including real-time analyst ratings and detailed financial metrics, InvestingPro subscribers gain exclusive access to premium research tools.
The research firm cited promising Phase II data for Immuneering’s MEK inhibitor in first-line pancreatic cancer treatment, which demonstrated the drug could be a safe and tolerable combination partner with standard chemotherapy.
The clinical results showed potential to extend progression-free survival and preserve quality of life in pancreatic cancer, an area with high unmet medical need, according to Jefferies.
Immuneering, which trades at approximately $100 million enterprise value, plans to advance the program to Phase III clinical trials based on these results.
The company remains active in strategic business development discussions as it prepares for the next stage of clinical development for its pancreatic cancer treatment candidate.
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