Chardan Capital started coverage on shares of Immunic (NASDAQ:IMUX) in a research note released on Thursday morning, AnalystRatings.com reports. The brokerage issued a buy rating and a $40.00 target price on the stock.
“We initiate coverage of Buy rating (PT$40) based on a partly derisked yet differentiated approach to treating autoimmune disease. The company’s pipeline contains 3 assets: 1) IMU-838, a dihydroorotate dehydrogenase (DHODH) inhibitor; 2) IMU-935, a RORγt inverse agonist; and 3) IMU-856, a small molecule to improve intestinal barrier function. Currently, IMU-838 is being tested in phase II trials in multiple sclerosis (MS, NCT03846219) and ulcerative colitis (UC, NCT03341962) with expansion into Crohn’s disease (CD) and primary sclerosing cholangitis (PSC, NCT03722576) anticipated shortly.”,” the firm’s analyst commented.
NASDAQ IMUX opened at $13.92 on Thursday. Immunic has a 52 week low of $6.00 and a 52 week high of $390.00.
Immunic, Inc, a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies for treating chronic inflammatory and autoimmune diseases, including ulcerative colitis, Crohn's disease, relapsing-remitting multiple sclerosis, and psoriasis. Its lead development program is IMU-838, a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH, which is in phase II clinical development for treatment of ulcerative colitis and relapsing-remitting multiple sclerosis.
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