In a report released today, Patrick Trucchio from H.C. Wainwright maintained a Buy rating on Invivyd (IVVD – Research Report), with a price target of $10.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Invivyd’s potential in the COVID-19 prophylaxis market. Despite the FDA’s rejection of PEMGARDA’s Emergency Use Authorization expansion for treating COVID-19, Trucchio’s valuation remains focused on the drug’s efficacy as a preventive measure for immunocompromised patients. The clinical data supporting PEMGARDA’s use in this high-need population, along with its long half-life and neutralizing activity against dominant variants, form the basis of this positive outlook.
Trucchio’s analysis also considers the long-term prospects of Invivyd, expecting an improved launch trajectory by 2025 as more clarity emerges on PEMGARDA’s benefits. The valuation employs a discounted cash flow methodology, accounting for potential risks such as emerging COVID-19 variants and shareholder dilution. Despite these risks, the projected firm value supports a $10 price target, reinforcing the Buy rating. This assessment reflects confidence in Invivyd’s strategic positioning and future growth potential in the prophylaxis market.