Cantor Fitzgerald reiterates overweight rating on Immatics stock
Investing.com
Published Jun 02, 2025 07:34AM ET
On Monday, Cantor Fitzgerald analysts reaffirmed their Overweight rating on Immatics stock (NASDAQ: IMTX), which currently trades at $5.39. The decision follows a recent presentation by Immatics at the American Society of Clinical Oncology (ASCO), where updated Phase 1b data on their PRAME TCRT cell therapy IMA203 for refractory melanoma was showcased. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis.
The analysts highlighted a recent dinner event with Immatics' management team, including CEO Harpreet Singh, CMO Cedrik Britten, and IR lead Francesca Vigano, as well as Dr. Jason Luke from the University of Pittsburgh, who is the lead principal investigator for the Phase 3 SUPRAME trial. Discussions at the event focused on the potential of IMA203, which now has complete evidence of its durability.
Immatics, with a market capitalization of $655 million and $588 million in cash at the end of the first quarter of 2025, is positioned to potentially file for interim data in the first quarter of 2026. InvestingPro analysis shows the company holds more cash than debt and maintains a healthy current ratio of 10.28, though it's currently burning through cash rapidly. The analysts at Cantor Fitzgerald expressed optimism about the company's prospects, with analyst targets ranging from $9 to $20, suggesting that it may be an opportune time to invest in the stock.
The reiteration of the Overweight rating reflects the analysts' confidence in Immatics' ongoing developments and financial standing. The company's strategic advancements in cell therapy are seen as pivotal in addressing refractory melanoma. While the company isn't currently profitable, InvestingPro data reveals 11 additional key insights about the company's financial health and market position.
In other recent news, Deutsche Bank initiated coverage on Immatics with a Buy rating and set a price target of $10.00 per share. The firm expressed optimism about Immatics' IMA203 therapy for treating second-line and beyond Cutaneous Melanoma, despite mixed results from earlier clinical trials. The pivotal Phase 3 SUPRAME trial, expected to release data by late 2026, is being closely monitored for its potential to significantly improve overall survival rates for patients. Meanwhile, Cantor Fitzgerald maintained an Overweight rating on Immatics, highlighting the company's proactive approach under CEO Harpreet Singh. The company is advancing rapidly with its Phase 3 trial for IMA203, alongside four Phase 1 studies. Cantor Fitzgerald noted the competitive landscape for melanoma studies but emphasized the strategic advantage of Immatics' trial design, particularly in Europe. The trial allows second-line patients to access Opdualag, enhancing its appeal. Both Deutsche Bank and Cantor Fitzgerald's analyses underscore confidence in Immatics' clinical progress and its potential to address unmet needs in melanoma treatment.
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Written By: Investing.com
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