Shares of Immunic (NASDAQ:IMUX) collapsed over 70% in Thursday’s after-hours session. This can be attributed to its psoriasis treatment’s inability to separate from the placebo in a phase 1b trial.
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However, this is an interim analysis that revealed limited information. The company does not have access to unblinded individual patient data at the moment. Nevertheless, investors are not at all happy with these initial results.
Is IMUX a Good Stock to Buy?
Prior to today’s news, analysts had a Strong Buy consensus rating on the company with four Buys assigned in the past three months. In addition, the price target was $24 per share. Unfortunately, this is likely to change following today’s plunge.
