Immunome Analysts Cut Their Forecasts After Q3 Results

Immunome Inc (NASDAQ:IMNM) on Monday posted a wider-than-expected loss for the third quarter.

The company posted a quarterly loss of 76 cents per share, missing market estimates of a loss of 63 cents per share.

“We made significant progress across our oncology pipeline in recent months,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Immunome. “We continue to advance varegacestat toward approval and launch, with an FDA PDUFA date of April 28, 2027, and recent EMA validation of our MAA. Beyond varegacestat, we now have three programs in the clinic, with IM-1340 expected to become the fourth by year-end. We are progressing the Phase 1 study of IM-1021, our ROR1-targeted ADC, and look forward to presenting updated Phase 1 data at ASH in December.”

Immunome shares fell 4.6% to trade at $18.48 on Tuesday.

These analysts made changes to their price targets on Immunome following earnings announcement.

• Piper Sandler analyst Biren Amin maintained the stock with an Overweight rating and lowered the price target from $33 to $30.
• Stifel analyst Dara Azar maintained the stock with a Hold and lowered the price target from $24 to $23.

Considering buying IMNM stock? Here’s what analysts think:

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