Invivyd’s Strategic Advancements and Strong Financial Position Justify Buy Rating

Analyst Patrick Trucchio of H.C. Wainwright has reiterated a Buy rating on Invivyd, maintaining a price target of $10.00. This rating is supported by Invivyd's strategic advancements, including a 41% year-over-year increase in PEMGARDA revenues and FDA clearance for VYD2311. The company's strong cash position, enhanced by recent fundraising, positions it well for future growth in COVID-19 prevention. Cantor Fitzgerald also supports this outlook with a Buy rating and a $10.00 price target.

Cantor Fitzgerald Keeps Their Buy Rating on Invivyd (IVVD)

Cantor Fitzgerald analyst Joshua Schimmer has maintained a Buy rating on Invivyd (IVVD) with a price target of $10.00. Schimmer, who specializes in the Healthcare sector, has an average return of 15.5% and a success rate of 52.43% on his stock recommendations. The overall analyst consensus for Invivyd is a Moderate Buy, also with a $10.00 average price target.

Invivyd’s Earnings Call: Positive Outlook Amid Challenges

Invivyd's Q3 earnings call highlighted a positive outlook despite challenges. Key developments included FDA feedback on antibody VYD2311, a successful capital raise of $87 million, and an 11% quarter-on-quarter revenue growth. The company expanded its presence with over 15,000 GPO sites and noted strong customer retention. However, challenges include a lack of modern data on COVID vaccines and logistical issues with FDA coordination. Invivyd plans to initiate pivotal studies for VYD2311 by year-end, aiming to capture a share of the COVID prevention market.

IVVD stock has given up its prior gain. Invivyd shares were trading higher after the company reported better-than-expected Q3 financial results.

Evolus shares are trading higher after the company reported better-than-expected Q3 financial results.