Jefferies cuts price target on Australia's Immutep after capital raise
04/06/2023 21:56
June 5 (Reuters) - ** Jefferies cuts price target on
Australia's Immutep's IMM.AX to A$0.90 from A$1.00, keeps
rating at "buy" after company completes institutional placement
** IMM on Friday announced completion of its institutional
placement and institutional component of its entitlement offer
** However, Jefferies says Australia's recent clinical
trials are overall solid in terms of survival in non-small cell
lung cancer patients
** Brokerage says Immutep's ongoing solid results continue
to confirm their investment thesis
** Jefferies expects new drug could potentially be used in
combination with checkpoint inhibitors or chemotherapy in
future, should positive clinical trial results continue
** Five of five analysts rate the stock "buy" or higher;
their median PT is A$0.90 – Refinitiv data
** Stock has fallen 4% this year, as of last close
(Reporting by Nausheen Thusoo in Bengaluru; Editing by Lisa
Shumaker and Diane Craft)
((Nausheen.Thusoo@thomsonreuters.com;))