Chardan Capital Sticks to Their Buy Rating for Immatics (IMTX)

Chardan Capital analyst Geulah Livshits reiterated a Buy rating on Immatics (IMTXResearch Report) today and set a price target of $28.00. The company’s shares closed today at $10.26.

Livshits covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Intellia Therapeutics, and Immatics. According to TipRanks, Livshits has an average return of 25.9% and a 41.91% success rate on recommended stocks.

Immatics has an analyst consensus of Moderate Buy, with a price target consensus of $28.00.

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Based on Immatics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.22 million and a GAAP net loss of $13.98 million. In comparison, last year the company earned a revenue of $5.19 million and had a GAAP net loss of $26.53 million

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Immatics NV is engaged in discovery of true targets for cancer immunotherapies with the development of the right T cell receptors. The company’s pipeline consists of two lead product classes, engineered Adoptive Cell Therapies (ACTengine) and antibody-like TCR Bispecifics (TCER). Each therapeutic modality has distinct attributes to produce the desired therapeutic effect for patients at different disease stages and with different types of tumors focusing on particularly hard-to-treat solid cancers.

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