Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Immutep (IMMP – Research Report). The associated price target remains the same with $12.00.
Jason McCarthy has given his Buy rating due to a combination of factors surrounding Immutep’s recent positive developments. The company reported promising median overall survival data from its Phase 2b TACTI-003 study, which evaluated the combination of eftilagimod alpha (efti) and Keytruda in first-line treatment for head and neck cancer patients with negative PD-L1 expression. The results showed a median overall survival of 17.6 months, which is notably higher compared to historical benchmarks in similar settings, such as cetuximab with chemotherapy and Keytruda with chemotherapy.
Additionally, the safety profile of the efti and Keytruda combination remains favorable, addressing the unmet need for a chemotherapy-free treatment option in this challenging cancer setting. Immutep has also initiated discussions with the FDA to explore the regulatory path forward, which could further enhance the company’s prospects. Furthermore, Immutep’s financial position appears solid, with sufficient funding expected to last until the end of 2026, supporting ongoing and future developments. These factors collectively contribute to McCarthy’s optimistic outlook and Buy rating for Immutep’s stock.
IMMP’s price has also changed moderately for the past six months – from $1.820 to $2.490, which is a 36.81% increase.