Chardan Capital Maintains Immuneering Buy Recommendation with 63.20% Upside Potential

Chardan Capital maintains a Buy recommendation for Immuneering (IMRX) with an average one-year price target of $13.06/share, representing a 63.20% increase from its latest closing price of $8.00/share. The projected annual revenue is $16MM, an increase of 3,533,746.15%, and the projected annual non-GAAP EPS is -$2.20. There are 57 funds or institutions reporting positions in Immuneering, with an average portfolio weight of 0.10%.

Chardan Capital has recently updated its recommendation for Immuneering Corporation (IMRX), maintaining a Buy rating with a new one-year price target of $13.06 per share. This represents a significant 63.20% increase from the company's latest closing price of $8.00 per share. The projected annual revenue for Immuneering is $16 million, indicating a substantial increase of 3,533,746.15% from previous estimates. Additionally, the projected annual non-GAAP EPS is -$2.20 Chardan Raises Price Target on Immuneering to $20 From $13, Keeps Buy Rating^[1].

Immuneering is a clinical-stage oncology company focused on developing Deep Cyclic Inhibitors (DCIs) for cancer patients. The company's lead product candidate, atebimetinib (IMM-1-104), is an oral, once-daily DCI of MEK designed to improve durability and tolerability. Atebimetinib is currently in a Phase 2a trial for patients with advanced solid tumors, including pancreatic cancer.

The company recently announced extraordinary survival data from its ongoing Phase 2a trial of atebimetinib in combination with modified gemcitabine/nab-paclitaxel (mGnP) in first-line pancreatic cancer patients. The data, to be presented at the Pancreatic Cancer Action Network (PanCAN) Scientific Summit 2025, showed a 9-month median follow-up overall survival (OS) of 86% in patients receiving atebimetinib + mGnP. This represents a significant improvement over the standard of care, which reported an OS of ~47% at 9 months. The data also showed a progression-free survival (PFS) of 53% at 9 months for patients receiving atebimetinib + mGnP, compared to ~29% for the standard of care Immuneering Announces Extraordinary 86% Overall Survival at 9 Months in First-Line Pancreatic Cancer Patients Treated With Atebimetinib + mGnP^[2].

Chardan Capital highlights the potential of atebimetinib's unique Deep Cyclic Inhibitor mechanism, which aims to pulse faster than tumors can adapt, leading to durable shrinkage. The company believes this approach has the potential to deliver both durability and tolerability, two essential patient-centered aspects that traditional targeted therapies have struggled to balance.

Immuneering is planning several near-term milestones for atebimetinib, including regulatory feedback on pivotal trial plans in Q4 2025, announcing further updated OS and PFS data, and initiating a pivotal Phase 3 trial by the end of 2025. The company also aims to initiate additional atebimetinib clinical trial combination arms in 2026, including in non-small cell lung cancer Immuneering Announces Extraordinary 86% Overall Survival at 9 Months in First-Line Pancreatic Cancer Patients Treated With Atebimetinib + mGnP^[2].

Chardan Capital's updated recommendation and price target reflect the company's positive clinical trial results and the potential of its Deep Cyclic Inhibitor technology. The company's pipeline includes several early-stage programs, and its platform is enabled by key elements such as bioinformatics and 3D tumor modeling.