The Albany Gazette - Emerging Growth Research Releases Flash Report on Immuron; Maintains Buy-Extended Rating and Raises Price Target to $4.00

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Emerging Growth Research Releases Flash Report on Immuron; Maintains Buy-Extended Rating and Raises Price Target to $4.00

BOULEVARD 22.04.2026

Emerging Growth Research Releases Flash Report on Immuron; Maintains Buy-Extended Rating and Raises Price Target to $4.00

NEW YORK CITY, NY / ACCESS Newswire / April 22, 2026 / Emerging Growth Research today released a Flash Report on Immuron (Nasdaq:IMRN), maintaining its Buy-Extended rating while increasing its 12-month price target to $4.00 (from $3.90), representing significant upside from the current share price of $0.9268 as of April 21, 2026.

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The Flash Report highlights Immuron's continued revenue growth, expanding commercial footprint, and progress within its clinical development pipeline.

Key Highlights:

Double-Digit Revenue Growth: Immuron reported global product revenue of AUD $1.5 million for 3Q FY2026, representing a 16% year-over-year increase. Growth was primarily driven by increased sales of Travelan^® across Australia and the United States.
Strong Core Market Performance: Year-over-year revenue growth in Australia and the U.S. reached 15% and 1%, respectively (in AUD), with stronger underlying U.S. growth when measured in USD due to foreign exchange impacts.
Rapid Expansion in Canada: While still a smaller market, Canadian revenue demonstrated strong sequential growth, increasing 82% quarter-over-quarter, supported by ongoing brand awareness initiatives.
Revenue-Generating Commercial Products: Immuron continues to generate revenue from its marketed products in Australia, the U.S., and Canada, helping offset clinical development costs. A third product was launched in Australia in December 2025.
Promising Clinical Pipeline: The Company is advancing two key candidates:
- IMM-124E (Travelan^®) for travelers' diarrhea
- IMM-529 for Clostridioides difficile (C. difficile) infections, with FDA clearance to proceed into Phase 2 clinical trials
Strategic Partnering Opportunities: Immuron is actively seeking partners to advance both IMM-124E and IMM-529 through later-stage development.
Compelling Valuation: Based on an updated peer group EV/Revenue multiple of 6.22x, Emerging Growth Research derives an enterprise valuation of approximately $33.3 million, supporting the increased $4.00 price target.

For a copy of the full Flash Report, please visit:

https://emerginggrowth.com/wp-content/uploads/2026/04/Immuron-Flash-Report-2026-04-22.pdf

https://www.emerginggrowth.com/profile/imrn/ (on the right side of the page as you scroll down)

About Immuron
Immuron Limited is a commercial and clinical-stage biopharmaceutical company focused on developing oral immunotherapies for the treatment of gastrointestinal infections. The Company's proprietary platform utilizes polyclonal antibodies derived from hyperimmune bovine colostrum. Immuron markets products in Australia, the United States, and Canada, while advancing a pipeline targeting infectious diseases with significant unmet medical needs.

About Emerging Growth Research
Emerging Growth Research is an independent equity research firm providing institutional-quality analysis on emerging and growth-stage companies. The firm delivers ongoing research coverage - including Flash Reports on material developments - to enhance transparency and broaden market awareness for companies participating in the Emerging Growth Conference platform.

Contact:
Emerging Growth Research
[email protected]
www.EmergingGrowth.com

Forward-Looking Statements
This press release contains forward-looking statements concerning business operations, financial performance, and future expectations. These statements are subject to risks and uncertainties, and actual results may differ materially from those projected. Investors are encouraged to review all risk factors and disclosures before making investment decisions.