Immunic

IMUX · NASDAQ

$7.41+$0.42 (+6.01%)TodayMarket closed ·
Prev close $6.99

IMUX analyst rating

BuyConsensus of 6 analysts over the last 12 months. 83% rate it a buy.
  • Strong buy0
  • Buy5
  • Hold1
  • Underperform0
  • Sell0

12-month price target · 13 analysts

Average $43.95 (+493.2% upside)

Low
$22.22
Now
$7.41
High
$89.25

Upgrades and downgrades

The latest rating actions, newest first

IMUX analyst upgrades, downgrades and rating actions
FirmDateActionRating
WedbushSep 10, 2026MaintainsOutperform
HC Wainwright & Co.Sep 10, 2026MaintainsBuy
WedbushAug 17, 2026InitiatesOutperform
B. Riley SecuritiesMay 22, 2026MaintainsBuy
HC Wainwright & Co.Apr 30, 2026MaintainsBuy
StifelApr 17, 2026InitiatesBuy
D. Boral CapitalApr 15, 2026DowngradeBuy → Hold
GuggenheimMar 24, 2026InitiatesBuy
HC Wainwright & Co.Mar 2, 2026MaintainsBuy
D. Boral CapitalFeb 13, 2026MaintainsBuy

The case for and against

Updated Oct 21, 2026

Bull case

Immunic is attractive fundamentally because vidofludimus calcium combines a differentiated dual mechanism—DHODH inhibition and Nurr1 activation—with positive Phase 2 evidence in relapsing and progressive MS, including 6.4 versus 2.4 mean cumulative active MRI lesions at 24 weeks and favorable long-term disability durability at week 144. The market opportunity is also substantial, as management and analysts point to a large, heterogeneous MS population, meaningful unmet need around relapse-associated worsening and progression independent of relapse activity, and an oral profile that could capture patients who prefer non-injectable therapy or switch from current treatments. Supportive safety data across 3,500+ patients, with no major hepatotoxicity or serious infection signal, further strengthens the investment case and underpins the potential for meaningful commercial penetration if Phase 3 ENSURE results are positive by the end of 2026.

Bear case

Immunic is a clinical-stage biopharmaceutical company whose outlook is constrained by binary development risk, with clinical and regulatory failure of vidofludimus calcium, IMU-838, IMU-935, or IMU-856 potentially leaving the pipeline without a viable commercial path. The company also faces meaningful funding pressure, as its own analysis highlights the possibility of needing additional capital, dilution from warrant exercise if Phase 3 data are positive, and commercialization/logistics challenges that could prevent revenue from meeting expectations. Its negative fundamental profile is further weighed down by intense competition from established and emerging therapies, while the cited bear case implies valuation scenarios below $0.4B and maximum downside around ~$5/sh based on a cash position of ~$3.50/sh and ongoing Phase 3 development.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.