Immunome (IMNM, Financial) is currently trading at a substantial discount, according to research by Piper Sandler. This assessment follows the announcement of a definitive agreement between SpringWorks Therapeutics and Merck KGaA for Merck to acquire SpringWorks at $47 per share in cash. If approved, SpringWorks’ Ogsiveo is expected to compete directly with Immunome's varegacestat, which is undergoing Phase 3 trials.
Piper Sandler suggests that, even on a conservative estimate with half of the enterprise value attributed to Ogsiveo, Immunome's valuation remains over 75% discounted solely based on varegacestat's potential. This valuation does not include any potential value from Immunome's early-stage pipeline. Despite these factors, Piper Sandler maintains an Overweight rating and has set a price target of $21 for Immunome shares.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Immunome Inc (IMNM, Financial) is $23.67 with a high estimate of $30.00 and a low estimate of $20.00. The average target implies an upside of 177.13% from the current price of $8.54. More detailed estimate data can be found on the Immunome Inc (IMNM) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Immunome Inc's (IMNM, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
