Immatics N.V. (IMTX) AI Stock Analysis

Immatics N.V. is a clinical-stage biopharmaceutical company headquartered in Tübingen, Germany, operating primarily in the United States. The company pioneers T cell receptor (TCR) based immunotherapies for cancer, developing targeted treatments for solid tumors through adoptive cell therapies (ACT) and antibody-like TCR Bispecifics. Its ACTengine platform includes product candidates such as IMA201, IMA202, and IMA203 in Phase I clinical trials, alongside preclinical candidate IMA204. Immatics is also advancing preclinical TCR Bispecifics, including IMA401 and IMA402, as well as IMA101 and allogenic candidate IMA301. It maintains strategic collaborations with GlaxoSmithKline, MD Anderson Cancer Center, Celgene Switzerland LLC, and Genmab A/S.

Immatics has experienced volatile top-line results driven by collaboration milestones, delivering a 5-year revenue CAGR of 9.1% from FY2020 to FY2025. After revenue reached $155.8M in FY2024, it fell 69.0% to $48.3M in FY2025. Net income shifted from $15.2M in FY2024 to a net loss of -$196.4M in FY2025, while research and development expenses expanded to $183.8M. For the trailing twelve months ended June 30, 2026, revenue stood at $41.7M with an operating margin of -735.0% and an EPS of -$1.87. However, the latest quarter ended June 30, 2026, demonstrated a quarterly revenue growth of 93.0% year-over-year.

As of June 30, 2026, Immatics held $393.2M in cash and short-term investments against $14.6M in total debt, creating a net cash position of $378.6M. The company shows a current ratio of 7.54 and a debt-to-equity ratio of 0.04 with $399.5M in shareholders' equity. Operating cash flow in FY2025 was -$169.7M and free cash flow was -$176.0M, reflecting capital expenditures of $6.3M. In addition, its share count expanded by 117.2% over 5 years.

At its last close of $6.73 on October 16, 2026, Immatics carried a market cap of $1.02B and an enterprise value of $876.3M. The stock trades at a price-to-sales multiple of 24.6x, compared to 4.1x for the median of its US-listed Healthcare peers. Its EV-to-EBITDA stands at 7.2x, below the peer median of 12.0x, alongside a price-to-book ratio of 2.9x. Over the past year, IMTX generated a return of -34.0%, lagging the S&P 500 return of 16.8%, while its 5-year return of -51.4% significantly underperformed the index gain of 83.0%.

Wall Street sentiment is unanimous among tracked analysts, with 9 Strong Buy ratings and no Buy, Hold, or Sell ratings. The mean price target of $17.26 represents a 156.4% premium over the last close of $6.73. For the fiscal year ending December 31, 2026, consensus estimates project an EPS of -$2.06 on revenue of $45.7M. The company beat EPS estimates in 1 of the last 4 quarters. The next earnings release is scheduled for November 16, 2026.

This page is an AI-written research summary of Immatics N.V. (IMTX). 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: IMTX income statement, IMTX balance sheet, IMTX key metrics, IMTX analyst forecast, IMTX chart. See the IMTX stock overview for the latest quote and news.