Clinical-stage biotechnology company Immunic Therapeutics’ (IMUX) stock continues to gain consistent Buy ratings from analysts. On TipRanks, IMUX stock commands a Strong Buy consensus rating based on five unanimous Buy recommendations. Also, the average Immunic price target of $16 implies an impressive 906.3% upside potential from current levels.
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Interestingly, IMUX shares have already gained 39.5% over the past year, showing remarkable investor confidence in the stock. According to TipRanks’ Stock Investors Tool, IMUX currently has a Positive Investor Sentiment. The number of retail portfolios (of investors using Tipranks’ Smart Portfolio) holding Immunic stock increased by 3.5% in the last 30 days.
Immunic started garnering more interest after it presented updated data from clinical and preclinical trials for Vidofludimus Calcium at the 40th Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS). The event was held from September 18 to 20, and the five analysts who recently rated Immunic stock came back impressed with the data and reiterated their Buy ratings on Immunic.
Brookline Capital Lifts Price Target on IMUX
On October 15, Brookline Capital Markets analyst Tyler Bussian lifted the price target on IMUX stock after meeting Immunic’s management.
The analyst raised the price target to $13 from $10, implying a 717.6% upside potential from current levels. The analyst seemed encouraged by management’s discussion and reiterated a Buy rating on the stock.
Following the discussion, Bussian included the sales expectations from Immunic’s lead product candidate IMU-838 (Vidofludimus Calcium) in his financial model. The drug has shown significant clinical relevance in trials to date for the treatment of primary progressive multiple sclerosis (PPMS) and non-reactive secondary progressive multiple sclerosis (nrSPMS).
Will Immunic Stock Go Up?
Following the success of Immunic’s recent trials and other catalysts, analysts expect the stock to go up in the future. Immunic focuses on developing small-molecule oral medicine for treating chronic inflammatory and autoimmune diseases such as Multiple Sclerosis (MS) and Celiac Disease. Immunic’s Vidofludimus Calcium possesses the combined power of neuroprotective, anti-inflammatory, and anti-viral properties.
Together these properties promise to address multiple drivers of neurodegeneration in patients suffering from MS. The triple power highlights IMU-838’s advantages compared to the other available medications for treating MS.
Moreover, Immunic boasts a solid management team, including CEO Dr. Daniel Vitt, who has tremendous confidence in the stock’s trajectory. The company’s team also includes Dr. Andreas Muehler (Chief Medical Officer), Dr. Hella Kohlhof (Chief Scientific Officer), and recently instated pharma veteran Jason Tardio as the COO and President.
This article was written in partnership with Immunic. TipRanks may be compensated for its publication.
