BUZZ - Stifel initiates coverage, Immunome stock rises

October 1 - ** Immunome (IMNM.O) shares rose 1.85% in pre-market trading

** Stifel Financial initiated coverage of this oncology drug manufacturer with a “Hold” rating

** The firm set a target price of $24, representing an 11.6% upside from the previous trading day’s close

** Stifel noted that the experimental desmoid tumor drug varegacestat is nearly indistinguishable in efficacy, pain relief effect, and dosing convenience from competitor SpringWorks’ approved Ogsiveo

** The institution stated that Immunome’s advanced targeted cancer therapies led by IM-1021 show promise, but more clinical trial data are needed

** These products can deliver cytotoxic drugs directly to cancer cells, minimizing damage to healthy cells

** The average rating among 16 analysts is “Buy”; the median target price is $35.50—data compiled by LSEG (London Stock Exchange Group)

** IMNM shares have remained roughly flat so far this year

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