Immunome's (IMNM) Outperform Rating Reaffirmed at Wedbush

Key Points

• Wedbush has reiterated an "outperform" rating for Immunome (NASDAQ:IMNM) with a price target of $21.00, suggesting a potential upside of 125.64% from its previous close.
• Immunome's shares recently increased by 3.5%, trading at $9.31, with a twelve-month range of $5.15 to $16.55.
• The company reported a quarterly earnings beat, with revenue of $4.02 million surpassing analyst estimates of $1.03 million, although it still posted a negative EPS of ($0.50).

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a report issued on Thursday,RTT News reports. They presently have a $21.00 price objective on the stock. Wedbush's price target would suggest a potential upside of 123.64% from the company's previous close.

A number of other brokerages also recently issued reports on IMNM. JPMorgan Chase & Co. dropped their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Guggenheim reaffirmed a "buy" rating and issued a $25.00 price target on shares of Immunome in a research note on Monday, August 25th. Evercore ISI initiated coverage on Immunome in a research note on Friday, August 22nd. They issued an "outperform" rating and a $18.00 price target on the stock. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Craig Hallum initiated coverage on Immunome in a research note on Friday, September 5th. They issued a "buy" rating and a $26.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $22.89.

Immunome Stock Performance

Shares of Immunome stock traded down $0.46 on Thursday, reaching $9.39. 2,436,791 shares of the company's stock were exchanged, compared to its average volume of 1,158,464. The company has a market capitalization of $817.31 million, a P/E ratio of -3.05 and a beta of 1.92. Immunome has a 52 week low of $5.15 and a 52 week high of $15.51. The firm's 50-day moving average is $10.00 and its two-hundred day moving average is $8.84.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.02. The company had revenue of $4.02 million for the quarter, compared to analysts' expectations of $1.03 million. Immunome had a negative return on equity of 76.10% and a negative net margin of 1,687.08%. On average, analysts expect that Immunome will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunome

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Immunome by 121.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock valued at $65,000 after purchasing an additional 3,802 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Immunome by 81.8% during the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after purchasing an additional 2,909 shares in the last quarter. Birchview Capital LP bought a new stake in Immunome in the second quarter worth $558,000. Balyasny Asset Management L.P. bought a new stake in Immunome in the second quarter worth $1,021,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Immunome by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company's stock worth $2,612,000 after acquiring an additional 9,686 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.