Immunodiagnostics stock gains support from physician webinar feedback
Investing.com reports that Needham upgraded Immunodiagnostics (IMDX) to a Buy rating in response to a physician webinar featuring a cardiologist from Loyola University Medical Center. The stock, currently priced at $4.27 with a market cap of $139.73 million, has shown an 60% return over the past year despite a year-to-date decline of 43%.
Dr. Max Jacob Liebo, a cardiologist specializing in heart and vascular care, utilized donor-derived cell free DNA testing in 100% of his patients and predicted it would become the dominant method for surveillance and for-cause rejection testing as clinical evidence mounts. Dr. Liebo currently employs dd-cfDNA assays from Natera and CareDx equally, indicating his potential to transition to GraftAssure from Immunodiagnostics upon positive trial results and FDA clearance.
He remains confident about the lack of reimbursement cuts for organ rejection testing. Needham's reassessment is driven by the webinar's positive reception, showcasing Immunodiagnostics' potential in the heart transplant sector.
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