H.C. Wainwright has adjusted its price target for Invivyd (IVVD, Financial) from $10 down to $5, while maintaining a Buy rating on the stock. This decision follows the company's revenue shortfall in the first quarter. Despite this setback, Invivyd is showing signs of growth beyond its initial focus on COVID-19. In the second quarter, signs of operational stability and pipeline expansion are becoming evident.
The firm perceives Invivyd as evolving from its original COVID-19-centric model towards developing a more diversified antibody-based platform for infectious diseases. Analysts at H.C. Wainwright express optimism about multiple potential catalysts that could drive value creation for Invivyd in the near future.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Invivyd Inc (IVVD, Financial) is $6.60 with a high estimate of $10.00 and a low estimate of $0.80. The average target implies an upside of 662.12% from the current price of $0.87. More detailed estimate data can be found on the Invivyd Inc (IVVD) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Invivyd Inc's (IVVD, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
IVVD Key Business Developments
Release Date: May 15, 2025
- PEMGARDA Net Product Revenue: $11.3 million in Q1 2025.
- Cash and Cash Equivalents: Approximately $48 million as of March end.
- Operating Expenses: $27.4 million in Q1 2025, a 15% reduction from Q4 2024.
- Potential Non-Dilutive Funding: Up to $30 million through a term loan facility with SVB.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Invivyd Inc (IVVD, Financial) has internalized its commercial organization, which is expected to drive broader adoption of PEMGARDA and improve commercial results.
- The company has secured access to additional non-dilutive capital, which will support growth if certain conditions and milestones are met.
- Invivyd Inc (IVVD) is expanding its pipeline to include discovery programs against new viral targets, potentially identifying best-in-class medicines for diseases beyond COVID-19.
- The company has reported strong revenues thus far in Q2, including record commercial days and weeks, indicating positive momentum.
- Invivyd Inc (IVVD) has reduced operating expenses by 15% quarter over quarter, demonstrating financial discipline and efficiency.
Negative Points
- Q1 revenues dipped from Q4, attributed to the transition to an internal sales team, which created a short-term headwind.
- The FDA declined Invivyd Inc (IVVD)'s application for expansion of EUA to include treatment of active mild to moderate COVID in immunocompromised persons, citing insufficient assurance of clinical benefit.
- There is skepticism among healthcare providers regarding PEMGARDA's ability to navigate virus evolution, partly due to previous inaccurate virology data in the fact sheet.
- The company faces challenges in educating healthcare providers about the benefits of monoclonal antibodies as an alternative therapy.
- Invivyd Inc (IVVD) is operating in a tough biotech financing environment, characterized by higher equity costs and a challenging backdrop for raising capital.
