Immunome

IMNM · NASDAQ

$17.92+$1.15 (+6.86%)TodayMarket closed · Oct 20, 7:54 PM ET

Prev close $16.77

IMNM analyst rating

BuyConsensus of 14 analysts over the last 12 months. 93% rate it a buy.

Strong buy0
Buy13
Hold1
Underperform0
Sell0

12-month price target · 17 analysts

Average $35.63 (+98.8% upside)

Low: $24.24
Now: $17.92
High: $42.00

Upgrades and downgrades

The latest rating actions, newest first

IMNM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
William Blair	Oct 16, 2026	Initiates	Outperform	—	52%
Stifel	Oct 1, 2026	Initiates	Hold	$24.00	43%
Alliance Global Partners	Sep 21, 2026	Initiates	Buy	$32.00	0%
HC Wainwright & Co.	Sep 10, 2026	Maintains	Buy	$40.00	41%
Truist Securities	Aug 12, 2026	Maintains	Buy	$37.00 → $38.00	25%
Wedbush	Aug 12, 2026	Maintains	Outperform	$31.00 → $35.00	46%
Wedbush	Jul 21, 2026	Maintains	Outperform	$31.00	46%
Wedbush	Jun 12, 2026	Maintains	Outperform	$31.00	46%
Truist Securities	May 28, 2026	Maintains	Buy	$36.00 → $37.00	25%
Barclays	May 28, 2026	Initiates	Overweight	$36.00	43%

The case for and against

Updated Oct 14, 2026

Bull case

Immunome is well positioned because varegacestat showed highly compelling RINGSIDE data, including an 84% reduction in the risk of progression or death, a 56% confirmed ORR versus 9% for placebo, and statistically significant pain improvement, supporting a potential 2027 launch and about $66M in first-year revenue. Its broader upside is reinforced by IM-1021, where objective responses have already been seen across multiple dose levels and the HC74 payload’s low efflux, high permeability, and DAR of 8 could validate a differentiated ADC platform in lymphoma, especially in DLBCL and follicular lymphoma. The balance sheet also looks supportive, with $520MM in cash, cash equivalents, and marketable securities at 2Q26 expected to fund operations into 2028, while IM-1617, IM-3050, IM-1340, and IM-1335 add multiple 2026 catalysts.

Bear case

Immunome is burdened by fundamental clinical and regulatory uncertainty, because its lead programs remain dependent on trials that may fail to show meaningful efficacy or could be delayed or denied approval. The company also faces severe competitive pressure in indications like DLBCL, where bispecific antibodies and CAR-T therapies already set a high bar, while the cited ROR1 data remain equivocal and no validated biomarker exists to guide patient selection or prove target accessibility. Financially, the business may need additional equity financing to complete development, and valuation is still anchored to distant 2035E sales and discounted 2029/2030E revenue assumptions, highlighting limited near-term operating visibility.

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