HC Wainwright reaffirmed their buy rating on shares of Immune Design (NASDAQ:IMDZ) in a research note released on Monday morning. The brokerage currently has a $8.00 price objective on the biotechnology company’s stock.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $7.75 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. We believe upside potential exists as the company explores additional tumor indications for G100, as well as potential Immune Design Corp. December 3, 2018 H.C. WAINWRIGHT & CO. EQUITY RESEARCH 2contribution from pipeline development.”,” the firm’s analyst commented.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised Immune Design from a sell rating to a hold rating in a research report on Wednesday, October 3rd. Leerink Swann downgraded 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 price target on shares of Immune Design in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Immune Design presently has an average rating of Buy and a consensus target price of $7.19.
IMDZ opened at $1.84 on Monday. Immune Design has a 12-month low of $1.25 and a 12-month high of $5.05. The firm has a market cap of $84.77 million, a PE ratio of -1.05 and a beta of 2.56.
Immune Design (NASDAQ:IMDZ) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. Immune Design had a negative return on equity of 43.44% and a negative net margin of 2,409.84%. The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.75 million. On average, research analysts forecast that Immune Design will post -1.14 earnings per share for the current fiscal year.
In related news, major shareholder Bvf Partners L. P/Il sold 902,000 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $1.83, for a total transaction of $1,650,660.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in Immune Design during the third quarter valued at about $36,000. Nexthera Capital LP bought a new stake in Immune Design during the third quarter valued at about $146,000. Tiverton Asset Management LLC bought a new stake in Immune Design during the second quarter valued at about $176,000. Bank of America Corp DE boosted its holdings in Immune Design by 231.9% in the second quarter. Bank of America Corp DE now owns 46,754 shares of the biotechnology company’s stock worth $212,000 after acquiring an additional 32,669 shares in the last quarter. Finally, DRW Securities LLC boosted its holdings in Immune Design by 59.2% in the second quarter. DRW Securities LLC now owns 58,900 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 21,900 shares in the last quarter. 46.27% of the stock is currently owned by institutional investors.
About Immune Design
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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