Immune Design price target lowered to $7.75 from $11 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis lowered his price target for Immune Design to $7.75 after the company provided two updates to its corporate strategy. The company said its primary focus is being placed on G100 and the initial opportunity in indolent lymphoma patients and that CMB305 is being placed on the back burner following a review of the ongoing Phase 2 combination study with Tecentriq, and the strategic decision to not pursue the Synovate pivotal study in sarcoma patients, which is now discontinued, Pantginis tells investors in a research note. He believes the shares trading below cash "presents an opportunity to participate in the G100 program at ground floor levels." The analyst keeps a Buy rating on Immune Design.