Maxim Group Assigns a Buy Rating on Immutep Limited

Maxim Group analyst Jason McCarthy assigned a Buy rating to Immutep Limited (NASDAQ: IMMP) today and set a price target of $7. The company’s shares closed yesterday at $2.58.

McCarthy commented:

“Immutep announced updated positive data from the ongoing TACTI-mel (P1) study of IMP321 (soluble LAg-3 fragment, eftilagimod) + Keytruda in melanoma. The data demonstrated in N=18 overall response rate of 33%, 50% of patients with tumor shrinkage and 66% with disease control. These data, in our view, further validate the IMP321 mechanism of action via stimulating immune activation and compliment data from the breast cancer study (P1 complete, P2b ongoing + chemotherapy). We have reduced the risk in our therapeutic models from 75%, to 50% which increases our price target to $7, from $5.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.6% and a 44.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Immutep Limited has an analyst consensus of Moderate Buy, with a price target consensus of $7.

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The company has a one-year high of $2.85 and a one-year low of $1.25. Currently, Immutep Limited has an average volume of 50.51K.

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Immutep Ltd. is a biotechnology company, which engages in developing immunotherapeutic products for cancer and autoimmune diseases. Its lead product is IMP321, which involves in clinical development for the treatment of cancer indications. The company was founded on May 21, 1987 and is headquartered in Sydney, Australia.