HCW starts Immune Design at buy; PT $11

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H.C. Wainwright initiated coverage of Immune Design (NASDAQ:IMDZ) with a “buy” rating and $11 price target. The stock closed at $3.45 on August 29.

“Based on our broad and long-term coverage of cancer immunotherapy, we project that the Immune Design could be a leader in the resurgence of cancer vaccines, while so many previously have struggled,” writes analyst Joseph Pantginis. 

The company's multi-pronged approach to cancer immunotherapy is led by CMB305, a novel NY-ESO-1 cancer vaccine with potential activity in a broad set of tumor types and lead indication in sarcoma; and G100, a potent TLR agonist also with potential activity in a wide range of tumors, led by relapsed/refractory follicular non-Hodgkin lymphoma.

“A key component to the company's approach with these assets is the use of biomarkers to specifically target patients and increase the likelihood of clinical success through this selection process,” Mr Pantginis said. 

In addition, he said the safety profile, to date, has been shown to be quite benign, and therefore, strongly amenable to combination therapies, which could be especially attractive to older populations. 

Stephen Kilmer