Immunome's (IMNM) Outperform Rating Reiterated 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 equities research analysts at Wedbush in a report released on Thursday,RTT News reports. They presently have a $21.00 target price on the stock. Wedbush's price objective suggests a potential upside of 116.16% from the company's current price.

Several other brokerages have also recently commented on IMNM. Guggenheim reiterated a "buy" rating and issued a $25.00 price target on shares of Immunome in a research report on Monday, August 25th. Wall Street Zen upgraded shares of Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Craig Hallum assumed coverage on Immunome in a research note on Friday, September 5th. They issued a "buy" rating and a $26.00 price target for the company. Evercore ISI assumed coverage on Immunome in a report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price objective on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Ten 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 $23.20.

Immunome Stock Up 3.5%

Shares of IMNM stock traded up $0.33 during trading hours on Thursday, hitting $9.72. 674,247 shares of the company were exchanged, compared to its average volume of 1,029,912. The firm has a market cap of $845.64 million, a PE ratio of -3.15 and a beta of 1.92. Immunome has a 1 year low of $5.15 and a 1 year high of $15.40. The firm has a fifty day moving average of $10.00 and a 200 day moving average of $8.84.

Immunome (NASDAQ:IMNM - Get Free Report) last posted 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. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. The firm had revenue of $4.02 million during the quarter, compared to the consensus estimate of $1.03 million. Analysts expect that Immunome will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its stake in shares of Immunome by 6.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,548 shares of the company's stock valued at $172,000 after purchasing an additional 1,188 shares during the period. Main Management ETF Advisors LLC raised its stake in Immunome by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 76,944 shares of the company's stock worth $716,000 after buying an additional 1,248 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Immunome by 3.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company's stock worth $470,000 after buying an additional 1,643 shares during the period. Invesco Ltd. raised its stake in Immunome by 6.4% during the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company's stock worth $191,000 after buying an additional 1,718 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock worth $60,000 after buying an additional 2,909 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

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.