Scotiabank starts INmune with Outperform on Alzheimer’s potential

Scotiabank analyst George Farmer initiated coverage of INmune Bio with an Outperform rating and $22 price target. The firm recommends buying shares of INmune to capture the value potential of the company’s lead anti-tumor necrosis factor biologic, XPro, in clinical development for treatment of Alzheimer’s disease. The firm says “compelling evidence” from the medical literature and early clinical results with XPro suggest that selective neutralization of soluble anti-tumor necrosis factor while leaving membrane-bound TNF unaffected may have a differentiated and more favorable impact on neuroinflammation associated with Alzheimer’s and translate to improved disease outcomes.