Immatics initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Immatics with an Overweight rating and $19 price target The company’s platforms, specifically its PRAME-targeting portfolio, has broad utility across solid tumors, the analyst tells investors in a research note. The firm thinks IMA203 is positioned as a best-in-indication cell therapy offering within post-PD-1 melanoma. It also sees significant opportunity outside of melanoma, particularly with IMA203CD8.