H.C. Wainwright Lowers Invivyd (IVVD) PT to $5 Amid Q1 2025 Revenue Shortfall

On Wednesday, H.C. Wainwright analyst Matthew Hedberg adjusted the price target on Invivyd Inc. (NASDAQ:IVVD) from $10 to $5, while maintaining a Buy rating. This revision follows a revenue shortfall in Q1 2025. Despite this, H.C. Wainwright believes that Invivyd is transitioning from a company solely focused on COVID-19 to a broader antibody-based infectious disease platform.

The firm also noted early signs of operational stabilization and pipeline expansion emerging in Q2 2025. Invivyd reported Q1 PEMGARDA net product revenue of $11.3 million, which was a decrease from $13.8 million sequentially. This decline was attributed to a planned transition from a contracted to an internalized sales force in January and February. However, the company has observed a re-acceleration of PEMGARDA revenue in Q2 2025 to date, with strong reported revenues, including record commercial days and weeks.

Despite these positive signs, Invivyd faced a setback in February when the FDA declined its application for expanded Emergency Use Authorization/EUA of PEMGARDA to include treatment for active mild to moderate COVID-19 in immunocompromised individuals due to insufficient assurance of clinical benefit. Invivyd is now expanding its pipeline to include discovery programs against new viral targets, aiming to identify best-in-class medicines for diseases beyond COVID-19, such as RSV and measles. Invivyd Inc. (NASDAQ:IVVD) is a biopharmaceutical company that discovers, develops, and commercializes antibody-based solutions for infectious diseases in the US.

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Disclosure: None. This article is originally published at Insider Monkey.