Immutep Limited (IMMP) AI Stock Analysis

Immutep Limited is a biotechnology firm based in Sydney, Australia, focused on developing immunotherapeutic treatments for cancer and autoimmune disorders. Its lead clinical candidate is eftilagimod alpha (efti or IMP321), a recombinant protein evaluated in Phase IIb trials for metastatic breast cancer. The company is also running the TACTI-002 and TACTI-003 clinical trials for head and neck squamous cell carcinoma and non-small cell lung cancer, alongside INSIGHT-003 and INSIGHT-005 for solid tumors. In autoimmune diseases, Immutep's pipeline includes IMP761, IMP701, and IMP731. It maintains partnerships with pharmaceutical leaders including GlaxoSmithKline, Novartis, Merck & Co., and Merck KGaA.

Immutep expanded annual revenue from $170,369 in FY2022 to $14.2M in FY2026, representing a 5-year revenue CAGR of 29.8% from FY2021 to FY2026. Annual revenue climbed 182.3% in FY2026 from $5.0M in FY2025, supported by gross margin turning positive to 83.0%. However, operating margin remained deeply negative at -576.2% as research and development expenses reached $75.0M. Net income deteriorated from -$32.2M in FY2022 to -$77.6M in FY2026. For the trailing twelve months ended June 30, 2026, revenue reached $19.9M, reflecting quarterly revenue growth of 633.5% year-over-year, while operating margin stood at -255.7% and diluted EPS was -$7.30.

As of June 30, 2026, Immutep held $68.9M in cash and short-term investments against total debt of $1.0M, resulting in net cash of $67.8M. Liquidity is supported by a current ratio of 5.69 and a debt-to-equity ratio of 0.02, with shareholders' equity at $61.5M out of $83.3M in total assets. In FY2026, operating cash flow was -$54.3M and free cash flow was -$54.3M, reflecting research spending. Capital expenditures totaled $90,895, while the share count decreased 91.4% over five years.

With a market capitalization of $23.6M and an enterprise value of -$5.3M, Immutep trades at a forward P/E of 7.1x, well below the 17.3x median of its US-listed Healthcare peers. Its price-to-sales multiple of 1.2x is also below the peer group median of 4.1x, while price-to-book sits at 0.9x and EV-to-revenue is 0.1x. Over the past year, IMMP stock fell 92.4%, compared to a 16.8% gain for the S&P 500 (SPY). Over five years, the stock dropped 95.9% versus an 83.0% rise for SPY.

Wall Street coverage includes 1 Buy rating, with 0 Hold, 0 Sell, 0 Strong Buy, and 0 Strong Sell ratings. The mean price target is $30.00, representing an 837.5% premium to the last close of $3.20 on October 16, 2026. For the fiscal year ending June 30, 2027, the consensus expects revenue of $4.0M and EPS of -$4.00, representing 48.3% EPS growth. For the following fiscal year, 1 analyst projects revenue of $3.0M and EPS of -$5.20. Over the last four quarters, the company delivered 2 EPS beats.

This page is an AI-written research summary of Immutep Limited (IMMP). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: IMMP income statement, IMMP balance sheet, IMMP key metrics, IMMP analyst forecast, IMMP chart. See the IMMP stock overview for the latest quote and news.