11 Best Australian Stocks to Buy According to Analysts

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2. Immutep Limited (NASDAQ:IMMP)

Number of Hedge Fund Holders: 2

Analyst Upside Potential: 260.08%

Immutep Limited (NASDAQ:IMMP) is a clinical-stage biopharmaceutical company that is engaged in developing immunotherapies to treat cancer and autoimmune diseases by targeting Lymphocyte Activation Gene-3 (LAG-3).

On May 7, Jason McCarthy, an analyst from Maxim Group, maintained a Buy rating on the stock with a price target of $12. The analyst highlighted the positive results of the Phase 2b TACTI-003 study. The study tested the combination of Eftilagimod alpha and Keytruda in first-line treatment for cancer patients. The results showed a promising overall median survival data of 17.6 months. This was significantly better than historical benchmarks with other treatments like cetuximab with chemotherapy or Keytruda with chemotherapy.

The analyst also noted that the safety profile of the combination is better than chemotherapy. Immutep Limited (NASDAQ:IMMP) has started discussions with the FDA to explore regulatory pathways for accelerating the approval. The company ranks as one of the best Australian stocks to buy according to analysts.

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