Immatics shares surge 19.63% after-hours as multiple analysts raise price targets amid positive PRAME bispecific and TCR-T therapy data.

Immatics jumped 19.63% in after-hours trading following multiple analyst upgrades driven by positive clinical data and therapeutic pipeline confidence. Guggenheim raised its price target to $19 from $16, citing "highly positive" results from the IMA402 PRAME bispecific program, while Leerink Partners increased its target to $17 from $16, highlighting improved success probabilities for the anzu-cel TCR-T therapy in melanoma. BofA Securities also raised its target to $14, emphasizing the PRAME franchise's strength. These upgrades reflect growing optimism around Immatics’ potential in oncology, particularly for its bispecific and TCR-T platforms, with Leerink projecting a $435 million peak U.S. revenue opportunity for anzu-cel in post-PD-1 melanoma. The coordinated analyst actions underscore confidence in the company’s clinical progress and commercial potential ahead of key data readouts in 2026.