Immunome price target lowered to $21 from $23 at Piper Sandler

Piper Sandler lowered the firm’s price target on Immunome (IMNM) to $21 from $23 and keeps an Overweight rating on the shares after the company provided its Q3 update where the previous expectations for topline Phase 3 data of AL102 part B is on track for the second half of 2025. Based on the efficacy results from the phase 2a portion, the firm thinks that RINGSIDE is likely to demonstrate a significant difference in the primary endpoint of mPFS. If approved, Piper believes AL102 will compete with Springworks Therapeutics’ (SWTX) Ogsiveo, which reported Q3 sales of $49.3M.