Immix Biopharma (NASDAQ:IMMX) Earns Buy Rating from Analysts at Bank of America

Equities researchers at Bank of America began coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a note issued to investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $27.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 195.73% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley assumed coverage on Immix Biopharma in a report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 target price on the stock. Mizuho upped their price objective on shares of Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Lifesci Capital assumed coverage on shares of Immix Biopharma in a research note on Wednesday. They issued an “outperform” rating and a $19.00 price objective for the company. HC Wainwright upped their price objective on shares of Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Immix Biopharma presently has an average rating of “Moderate Buy” and an average price target of $20.67.

Immix Biopharma Price Performance

NASDAQ:IMMX opened at $9.13 on Thursday. The firm has a market capitalization of $496.77 million, a PE ratio of -9.92 and a beta of 0.10. The business’s fifty day moving average price is $9.21 and its 200 day moving average price is $7.71. Immix Biopharma has a 12 month low of $1.94 and a 12 month high of $11.61.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, equities analysts anticipate that Immix Biopharma will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

A number of hedge funds have recently added to or reduced their stakes in IMMX. Private Advisor Group LLC lifted its position in Immix Biopharma by 9.5% in the first quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock valued at $316,000 after purchasing an additional 3,000 shares during the period. Allworth Financial LP acquired a new stake in Immix Biopharma in the fourth quarter valued at about $30,000. Velan Capital Investment Management LP lifted its position in Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock valued at $73,000 after purchasing an additional 10,000 shares during the period. Mathes Company Inc. acquired a new stake in Immix Biopharma in the fourth quarter valued at about $56,000. Finally, Tocqueville Asset Management L.P. lifted its position in Immix Biopharma by 37.4% in the third quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock valued at $84,000 after purchasing an additional 10,950 shares during the period. Institutional investors and hedge funds own 11.26% of the company’s stock.

Immix Biopharma Company Profile

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.