Why Immunic's Stock Is Trading Higher Today

Immunic IMUX shares are trading higher on Friday after SVB Leerink initiated coverage on the stock with an Outperform rating and announced a price target of $45 per share.

Immunic is a clinical stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, including ulcerative colitis, Crohn's disease, relapsing remitting multiple sclerosis, and psoriasis. The company is developing three small molecule products, IMU-838 is a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH, IMU-935 is an inverse agonist of RORγt and IMU-856 targets the restoration of the intestinal barrier function.

Immunic shares traded up 8.43% to $20.46 on Friday. The stock has a 52-week high of $23.39 and a 52-week low of $4.19.