IMRX - Immuneering slips as Morgan Stanley downgrades on lack of catalysts
- Immuneering Corporation ( NASDAQ: IMRX ) traded lower Friday after Morgan Stanley downgraded the clinical-stage biotech to Underweight from Equal Weight, noting that the company lacks clear clinical catalysts this year.
- Despite the bearish rating, analyst Jeffrey Hung doesn't project a slide in Immuneering ( IMRX ) shares. Instead, using a relative rating system, Hung sees better opportunities elsewhere in the coverage, which he updates after s meeting with management teams in January.
- While Immuneering ( IMRX ) has started dosing in its Phase 1/2a study for lead asset IMM-1-104 , its enrollment is still in its early stages, and there is no clarity as to when the company will release initial data, Hung added.
- Delaying his projected market launch of IMM-1-104 into 2029 from 2026, the analyst lowers the price target on IMRX to $5 from $12.
- Wall Street has remained bullish on Immuneering ( IMRX ) stock, with an average rating of Buy from analysts , while, Seeking Alpha's Quant System, which consistently beats the market, rated IMRX as a Hold.
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Immuneering slips as Morgan Stanley downgrades on lack of catalysts