I-Mab (NASDAQ:IMAB) Upgraded to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of I-Mab (NASDAQ:IMAB) to a strong-buy rating in a research note issued to investors on Friday morning,Zacks.com reports.

IMAB has been the topic of several other reports. Wall Street Zen upgraded shares of I-Mab from a “hold” rating to a “buy” rating in a research note on Friday. Brookline Capital Management reiterated a “buy” rating on shares of I-Mab in a research note on Thursday, August 28th. New Street Research set a $7.00 target price on shares of I-Mab in a research note on Wednesday, September 10th. BTIG Research assumed coverage on shares of I-Mab in a research report on Tuesday, September 9th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Leerink Partners assumed coverage on shares of I-Mab in a research report on Friday. They set an “outperform” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, I-Mab presently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

I-Mab Trading Up 4.6%

NASDAQ IMAB opened at $4.32 on Friday. I-Mab has a 1 year low of $0.60 and a 1 year high of $5.90. The company’s 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $2.30.

I-Mab (NASDAQ:IMAB) last posted its earnings results on Wednesday, August 20th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. As a group, research analysts predict that I-Mab will post -0.56 EPS for the current year.

Hedge Funds Weigh In On I-Mab

Institutional investors and hedge funds have recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new position in shares of I-Mab during the 1st quarter valued at $38,000. Geode Capital Management LLC grew its holdings in shares of I-Mab by 147.6% during the 2nd quarter. Geode Capital Management LLC now owns 54,562 shares of the company’s stock valued at $132,000 after purchasing an additional 32,525 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of I-Mab during the 1st quarter valued at $53,000. Millennium Management LLC grew its holdings in shares of I-Mab by 763.1% during the 4th quarter. Millennium Management LLC now owns 97,749 shares of the company’s stock valued at $83,000 after purchasing an additional 86,424 shares during the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of I-Mab during the 1st quarter valued at $398,000. Institutional investors own 38.38% of the company’s stock.

I-Mab Company Profile

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.