IMV (IMV) Stock Rating Reaffirmed by HC Wainwright
IMV (NYSE:IMV)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Monday, AnalystRatings.com reports. They presently have a $11.50 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 165.59% from the stock’s previous close.
The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating and $11.50 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our valuation is currently based on the opportunities in the U.S. for only DPX-Survivac, the leading asset, in ovarian cancer (approximately 43% valuation contribution, 30% chance of success), DLBCL (15% valuation contribution, 15% chance of success), and the indications in the basket trial (41% valuation contribution, 10% chance of success).””
Several other equities research analysts have also weighed in on IMV. Raymond James set a $10.00 price objective on IMV and gave the stock an “outperform” rating in a research note on Monday, March 25th. Zacks Investment Research lowered IMV from a “hold” rating to a “sell” rating in a research note on Saturday, May 11th. Finally, B. Riley started coverage on IMV in a research note on Wednesday, May 29th. They set a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $9.19.
IMV (NYSE:IMV) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $0.06 million for the quarter.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ruffer LLP boosted its stake in shares of IMV by 10.6% during the 1st quarter. Ruffer LLP now owns 6,801,225 shares of the company’s stock worth $27,313,000 after acquiring an additional 652,000 shares in the last quarter. FIL Ltd boosted its stake in shares of IMV by 6.6% during the 1st quarter. FIL Ltd now owns 2,862,000 shares of the company’s stock worth $11,458,000 after acquiring an additional 177,000 shares in the last quarter. First Manhattan Co. boosted its stake in shares of IMV by 75.7% during the 1st quarter. First Manhattan Co. now owns 154,518 shares of the company’s stock worth $620,000 after acquiring an additional 66,550 shares in the last quarter. Bank of Montreal Can boosted its position in shares of IMV by 18.5% in the first quarter. Bank of Montreal Can now owns 75,661 shares of the company’s stock worth $304,000 after buying an additional 11,807 shares during the period. Finally, Ironwood Investment Management LLC acquired a new stake in shares of IMV in the first quarter worth $135,000.
IMV Company Profile
IMV, Inc is a clinical-stage biopharmaceutical company, which engages in the development of cancer immunotherapies and infectious disease vaccines. The firm’s patented platform, DepoVax, provides controlled and prolonged exposure of antigens and adjuvant to the immune system. The company was founded by Warwick Kimmins and Brian Lowe on March 28, 2000 and is headquartered in Halifax, Canada.
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