Why Immunic Stock Is Soaring Today
Shares of Immunic (NASDAQ: IMUX) are up by 18% as of 1:30 p.m. EDT on Wednesday, despite the clinical-stage biopharmaceutical company not reporting any news. IMU-838 achieved all its primary and secondary endpoints in the study, and these positive results are one of the main reasons why Piper Sandler analyst Yasmeen Rahimi initiated coverage on the company's stock with an overweight (buy) rating. After all, the clinical trial process is rife with risk and uncertainty, and if one of the company's candidates fails to deliver positive results, its stock will plunge.
