Immix Biopharma (NASDAQ:IMMX) Stock Price Target Raised at Needham & Company LLC

Key Points

• Needham raised Immix Biopharma’s price target to $30 from $21 and maintained a “buy” rating, implying 194.15% upside from the prior close.
• Analyst sentiment is generally positive: eight analysts rate IMMX a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average target price of $24.14.
• Shares closed at $10.20 after falling $1.27, while the company reported a quarterly loss of $0.18 per share, slightly worse than the expected $0.17 loss.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) had its target price raised by Needham & Company LLC from $21.00 to $30.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 194.15% from the stock's previous close.

IMMX has been the topic of several other reports. Citigroup restated a "market outperform" rating on shares of Immix Biopharma in a research report on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immix Biopharma in a research report on Friday, July 17th. HC Wainwright increased their target price on Immix Biopharma from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Mizuho lifted their target price on Immix Biopharma from $15.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, September 15th. Finally, Bank of America started coverage on Immix Biopharma in a research note on Thursday, June 18th. They issued a "buy" rating and a $27.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.14.

Immix Biopharma Stock Performance

NASDAQ IMMX traded down $1.27 on Tuesday, hitting $10.20. The stock had a trading volume of 3,789,871 shares, compared to its average volume of 1,302,943. Immix Biopharma has a 52-week low of $1.99 and a 52-week high of $15.10. The company has a market capitalization of $729.64 million, a price-to-earnings ratio of -11.72 and a beta of 0.20. The firm has a 50-day moving average of $11.62 and a 200-day moving average of $10.23.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). As a group, research analysts anticipate that Immix Biopharma will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Several large investors have recently made changes to their positions in IMMX. Jupiter Topco LLC bought a new position in shares of Immix Biopharma during the 2nd quarter valued at about $100,816,000. Janus Henderson Group PLC grew its holdings in shares of Immix Biopharma by 22.5% in the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company's stock valued at $43,698,000 after purchasing an additional 880,434 shares in the last quarter. BlackRock Inc. bought a new stake in Immix Biopharma in the second quarter worth $30,827,000. Eventide Asset Management LLC bought a new stake in Immix Biopharma in the fourth quarter worth $13,331,000. Finally, Opaleye Management Inc. purchased a new stake in Immix Biopharma during the second quarter valued at $24,177,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Immix Biopharma Company Profile

Immix Biopharma, Inc NASDAQ: IMMX is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.

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