Immatics FY2024 EPS Forecast Increased by Leerink Partnrs

Immatics (NASDAQ:IMTX) – Research analysts at Leerink Partnrs raised their FY2024 EPS estimates for Immatics in a report issued on Monday, November 18th. Leerink Partnrs analyst J. Chang now forecasts that the company will post earnings of ($0.70) per share for the year, up from their previous estimate of ($0.97). The consensus estimate for Immatics’ current full-year earnings is ($0.93) per share. Leerink Partnrs also issued estimates for Immatics’ Q4 2024 earnings at ($0.35) EPS and FY2025 earnings at ($1.57) EPS.

A number of other research firms also recently weighed in on IMTX. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Bank of America cut their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price on the stock.

Immatics Stock Down 0.1 %

Shares of IMTX stock opened at $7.80 on Thursday. The firm has a market cap of $930.98 million, a P/E ratio of -8.76 and a beta of 0.78. The business has a 50-day moving average price of $10.10 and a two-hundred day moving average price of $11.20. Immatics has a 12-month low of $7.46 and a 12-month high of $13.77.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Immatics in the 2nd quarter worth $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Immatics during the 3rd quarter valued at about $114,000. Forefront Analytics LLC bought a new position in Immatics during the 2nd quarter valued at approximately $139,000. AlphaCentric Advisors LLC lifted its holdings in Immatics by 14.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after buying an additional 2,500 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Immatics in the 2nd quarter worth approximately $242,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

About Immatics

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.