Immunic (NASDAQ:IMUX) Cut to “Buy” at ValuEngine

Immunic (NASDAQ:IMUX) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other brokerages also recently issued reports on IMUX. BMO Capital Markets upped their price objective on shares of Immunic from $40.00 to $61.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. LADENBURG THALM/SH SH increased their price target on shares of Immunic from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler started coverage on shares of Immunic in a research note on Tuesday, August 25th. They set an “overweight” rating and a $71.00 price target on the stock. Wedbush reaffirmed a “buy” rating and set a $58.00 price target on shares of Immunic in a research note on Monday, July 27th. Finally, Roth Capital assumed coverage on shares of Immunic in a research note on Friday, August 7th. They set a “buy” rating and a $64.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Immunic presently has an average rating of “Buy” and an average price target of $54.14.

Shares of IMUX opened at $17.94 on Tuesday. The company has a market capitalization of $268.53 million, a price-to-earnings ratio of -5.84 and a beta of 2.77. The company’s 50 day simple moving average is $17.24 and its 200 day simple moving average is $11.81. Immunic has a 1 year low of $4.19 and a 1 year high of $23.39.

Immunic (NASDAQ:IMUX) last announced its quarterly earnings data on Sunday, August 2nd. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.28). As a group, equities research analysts expect that Immunic will post -2.85 earnings per share for the current fiscal year.

In other news, COO Manfred Groeppel sold 5,650 shares of Immunic stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $14.58, for a total value of $82,377.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Vitt sold 6,300 shares of Immunic stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $14.68, for a total transaction of $92,484.00. The disclosure for this sale can be found here. 12.07% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of IMUX. American International Group Inc. bought a new stake in Immunic in the 2nd quarter valued at about $25,000. Wells Fargo & Company MN lifted its position in Immunic by 78.9% in the 1st quarter. Wells Fargo & Company MN now owns 10,814 shares of the company’s stock valued at $65,000 after purchasing an additional 4,769 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Immunic during the 2nd quarter worth about $78,000. Bank of America Corp DE raised its position in shares of Immunic by 303.9% during the 2nd quarter. Bank of America Corp DE now owns 10,385 shares of the company’s stock worth $126,000 after buying an additional 7,814 shares in the last quarter. Finally, Leap Investments LP bought a new stake in shares of Immunic during the 2nd quarter worth about $139,000. Hedge funds and other institutional investors own 28.12% of the company’s stock.

Immunic Company Profile

Immunic, Inc, a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies for treating chronic inflammatory and autoimmune diseases, including ulcerative colitis, Crohn's disease, relapsing-remitting multiple sclerosis, and psoriasis. Its lead development program is IMU-838, a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH, which is in phase II clinical development for treatment of ulcerative colitis and relapsing-remitting multiple sclerosis.

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Analyst Recommendations for Immunic (NASDAQ:IMUX)

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