Prima BioMed (NASDAQ:IMMP) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Prima BioMed (NASDAQ:IMMP) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

Several other analysts have also recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th. Maxim Group raised shares of Prima BioMed from a “hold” rating to a “buy” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.50.

Prima BioMed Stock Performance

IMMP stock opened at $0.33 on Monday. Prima BioMed has a 52-week low of $0.29 and a 52-week high of $3.53. The stock’s fifty day simple moving average is $0.38 and its 200-day simple moving average is $0.57.

Shares of Prima BioMed are scheduled to reverse split on Monday, September 28th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

Prima BioMed (NASDAQ:IMMP) last released its earnings results on Thursday, July 30th. The biotechnology company reported ($0.09) EPS for the quarter. The company had revenue of $3.68 million during the quarter.

About Prima BioMed

Prima BioMed Limited was an Australian biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research centered on treatments designed to activate or enhance the immune system’s ability to recognize and attack abnormal cells.

Its lead development program was eftilagimod alpha, also known as IMP321, a soluble LAG-3 protein intended to stimulate antigen-presenting cells and support broader immune responses. Prima BioMed evaluated the therapy in combination with existing cancer treatments, including chemotherapy and immune checkpoint inhibitors, across several solid-tumor indications.

The company conducted clinical-development activities internationally, including in Australia, Europe and the United States.