Immunic Inc (IMUX) Gets a Buy Rating from Chardan Capital

By Carrie Williams

In a report released today, Taylor Feehley from Chardan Capital reiterated a Buy rating on Immunic Inc (IMUXResearch Report), with a price target of $40. The company’s shares closed last Monday at $14.66, close to its 52-week low of $6.04.

Feehley observed:

“We see these results as a positive signal for IMU-838 and supportive of our thesis on the potential for this asset across autoimmune conditions. In our view, these results further derisk IMU-838 in gastrointestinal autoimmune diseases, particularly given the clean tolerability and safety profile. While DHODH inhibition, which interferes with the metabolism of activated (but not resting/naive) lymphocytes, should be broadly applicable in autoimmune diseases, other compounds have not been well-tolerated and thus have not been useful in ulcerative colitis or Crohn’s disease. A prior small, open-label study of IMU-838 in ulcerative colitis and Crohn’s had demonstrated some preliminary efficacy, but these new results with the 10 mg dose in a placebo-controlled setting suggest IMU-838 may be more potent than previously appreciated.”

According to TipRanks.com, Feehley is ranked 0 out of 5 stars with an average return of -33.7% and a 16.0% success rate. Feehley covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Kaleido Biosciences Inc, and Evelo Biosciences Inc.

Currently, the analyst consensus on Immunic Inc is a Moderate Buy with an average price target of $40.

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Based on Immunic Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.71 million. In comparison, last year the company had a GAAP net loss of $12.68 million.

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Immunic, Inc. engages in developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases. It focuses on ulcerative colitis, Crohn’s disease, relapsing-remitting multiple sclerosis, and psoriasis. Its products include IMU-838, IMU-935, and IMU-856. The company is headquartered in San Diego, CA.