Wedbush analyst Martin Fan downgraded ImageneBio to Underperform from Neutral with a price target of $2, down from $23, while assuming coverage of the stock. The firm recommends investors avoid ImageneBio shares unless the company either gains a development partner, or shifts its focus to a new indication, citing high development costs, the company's reliance on a single asset and indication, a limited catalyst calendar, and what it views as competitors with equivalent or superior product profiles.

Leerink

Outperform

initiated

$30

2025-10-24

Reason

Leerink

Price Target

$30

2025-10-24

initiated

Outperform

Reason

Leerink initiated coverage of ImageneBio (IMA) with an Outperform rating and $30 price target. The firm views shares as "dramatically undervalued," particularly following a selloff in the wake of disappointing competitor Sanofy's (SNY) amlitelimab results on September 4. Leerink believes ImageneBio's lead asset IMG-007, a non-depleting anti-OX40 monoclonal antibody, is a potential blockbuster for atopic dermatitis. Early clinical data for IMG-007 suggests compelling efficacy at Week 16 compared to Dupixent. Competing drug candidate Phase 3 disappointments from Amgen's (AMGN) OX40 rocatinlimab and Sanofi's OX40L amlitelimab have dampened investor sentiment toward the OX40-OX40L class. This yields a favorable setup for IMG-007 to deliver a superior "trifecta" competitive profile, the firm argues.

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IMA Should I Buy

IMA Should I Buy

Should You Buy ImageneBio Inc (IMA) Today? Analysis, Price Targets, and 2026 Outlook.

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