Immune Design (NASDAQ:IMDZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $2.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 23.46% from the stock’s current price.
According to Zacks, “Immune Design's primary candidate, G100 is being developed for merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. We are positive about its strategic agreements with companies like Sanofi, Roche and Merck, which not only validate its GLAAS platform but also provide the company with funds in the form of collaboration and license revenues. Although such collaborations boost its pipeline development, heavy dependence on other companies for revenue growth increases the company’s vulnerability too. However, Immune Design in October 2018, discontinued CMB305 cancer vaccine program following a review of its portfolio. Shares of the company underperformed the industry, year to date. Loss estimates have narrowed ahead opf the Q3 earnings release.”
A number of other research analysts also recently weighed in on IMDZ. HC Wainwright started coverage on shares of Immune Design in a research report on Wednesday, August 29th. They set a “buy” rating and a $11.00 target price for the company. Leerink Swann downgraded shares of Immune Design from an “outperform” rating to a “market perform” rating in a research report on Friday, October 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $11.00 target price on shares of Immune Design in a research report on Friday, October 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $7.25.
Immune Design (NASDAQ:IMDZ) last released its earnings results on Wednesday, August 1st. The biotechnology company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.01. Immune Design had a negative net margin of 2,324.21% and a negative return on equity of 46.95%. The firm had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.64 million. On average, sell-side analysts anticipate that Immune Design will post -1.25 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Tiverton Asset Management LLC bought a new position in shares of Immune Design during the 2nd quarter valued at approximately $176,000. Essex Investment Management Co. LLC bought a new position in shares of Immune Design during the 2nd quarter valued at approximately $192,000. Bank of America Corp DE grew its position in shares of Immune Design by 231.9% during the 2nd quarter. Bank of America Corp DE now owns 46,754 shares of the biotechnology company’s stock valued at $212,000 after acquiring an additional 32,669 shares during the period. DRW Securities LLC grew its position in shares of Immune Design by 59.2% during the 2nd quarter. DRW Securities LLC now owns 58,900 shares of the biotechnology company’s stock valued at $268,000 after acquiring an additional 21,900 shares during the period. Finally, Alps Advisors Inc. bought a new position in Immune Design in the 2nd quarter worth approximately $318,000. 49.41% of the stock is owned by hedge funds and other institutional investors.
Immune Design Company Profile
Immune Design Corp., a clinical-stage immunotherapy company, engages in the research and development of in vivo treatments for cancer. The company primarily develops oncology product candidates based on its ZVex and GLAAS discovery platforms. Its lead products include CMB305, a cancer vaccine targeting the NY-ESO-1 tumor antigen, which is in Phase 2 trial for the treatment of patients with synovial and MRCL sarcoma as a monotherapy; and G100, an antigen agnostic intratumoral product candidate as a monotherapy and combination therapy for the treatment of patients with follicular non-Hodgkin Lymphoma.
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