Immune Design (IMDZ): TheraVectys Settlement Removes A Small Overhang - Jefferies
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Immune Design (NASDAQ: IMDZ) after announcing a settlement with TheraVectys SA.
The company announced settlement of the ongoing IP dispute with TheraVectys for a modest sum (up to $7.25M). Though this was not likely a major overhang for investors, the analyst believes elimination of the lingering issue should enable IMDZ to increase its share price upside if the cancer pipeline readouts are positive.
No change to the price target of $17.
Shares of Immune Design closed at $6.95 yesterday.
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