Mizuho Issues Positive Forecast for Immix Biopharma (NASDAQ:IMMX) Stock Price

Key Points

• Mizuho raised its price target for Immix Biopharma from $15 to $26 and maintained an “outperform” rating, implying 117.41% upside from the stock’s $11.96 price.
• Analyst sentiment is broadly positive: eight analysts rate IMMX a Buy and one rates it Sell, producing a “Moderate Buy” consensus rating and an average price target of $22.86.
• Immix Biopharma reported a quarterly loss of $0.18 per share, slightly worse than the $0.17 consensus estimate; institutional investors own 11.26% of the company, including a new $24.2 million position from Opaleye Management.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) had its price objective raised by stock analysts at Mizuho from $15.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective suggests a potential upside of 117.41% from the stock's current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley dropped their target price on Immix Biopharma from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Immix Biopharma in a report on Friday, July 17th. Needham & Company LLC assumed coverage on shares of Immix Biopharma in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $21.00 price objective for the company. 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 price objective on the stock. Finally, HC Wainwright boosted their target price on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

Immix Biopharma Price Performance

NASDAQ IMMX traded down $0.25 during trading hours on Tuesday, hitting $11.96. The company had a trading volume of 157,453 shares, compared to its average volume of 1,268,328. Immix Biopharma has a fifty-two week low of $1.94 and a fifty-two week high of $15.10. The company has a market capitalization of $855.53 million, a price-to-earnings ratio of -13.67 and a beta of 0.20. The firm's 50 day moving average is $11.33 and its 200 day moving average is $10.00.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). On average, equities analysts anticipate that Immix Biopharma will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Opaleye Management Inc. purchased a new position in Immix Biopharma in the second quarter valued at about $24,177,000. Engineers Gate Manager LP acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at approximately $184,000. Squarepoint Ops LLC raised its position in shares of Immix Biopharma by 57.5% in the 2nd quarter. Squarepoint Ops LLC now owns 70,062 shares of the company's stock valued at $722,000 after purchasing an additional 25,572 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at approximately $566,000. Finally, Compass Financial Management LLC purchased a new position in shares of Immix Biopharma during the 2nd quarter valued at approximately $62,000. Institutional investors and hedge funds own 11.26% of the company's stock.

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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