Needham & Company LLC Begins Coverage on Immix Biopharma (NASDAQ:IMMX)

Equities researchers at Needham & Company LLC initiated coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 119.44% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Mizuho lifted their price target on Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Citizens Jmp reissued a “market outperform” rating and set a $23.00 price target on shares of Immix Biopharma in a report on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a report on Friday. Lifesci Capital began coverage on shares of Immix Biopharma in a research note on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price for the company. Finally, Citigroup began coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Immix Biopharma has an average rating of “Moderate Buy” and a consensus price target of $20.71.

Immix Biopharma Stock Performance

IMMX stock opened at $9.57 on Wednesday. Immix Biopharma has a one year low of $1.94 and a one year high of $12.14. The firm has a market cap of $520.70 million, a price-to-earnings ratio of -10.40 and a beta of 0.09. The firm has a 50-day simple moving average of $9.44 and a two-hundred day simple moving average of $8.48.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. As a group, equities analysts predict that Immix Biopharma will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Immix Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in shares of Immix Biopharma in the 4th quarter valued at approximately $30,000. Mathes Company Inc. acquired a new stake in shares of Immix Biopharma in the fourth quarter valued at $56,000. Balyasny Asset Management L.P. acquired a new stake in Immix Biopharma in the 4th quarter valued at about $67,000. Kera Capital Partners Inc. acquired a new stake in Immix Biopharma in the fourth quarter valued at approximately $68,000. Finally, Velan Capital Investment Management LP lifted its position in shares of Immix Biopharma by 40.0% during the 3rd quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after purchasing an additional 10,000 shares during the last quarter. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

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.