Immix Biopharma, Inc. (NASDAQ:IMMX) Stock Has Average Price Target of $22.86 According to Analysts

Key Points

• Analysts maintain a moderately bullish view of Immix Biopharma, with eight buy ratings and one sell rating. The average 12-month price target is $22.86, well above the stock’s $11.70 opening price.
• IMMX shares have declined 1.8% and recently traded near $11.70, while the company reported a quarterly loss of $0.18 per share, missing the $0.17-per-share consensus estimate.
• Immix Biopharma is developing cancer and autoimmune disease cell therapies, led by its NXC-201 CAR-T candidate for relapsed or refractory AL amyloidosis and multiple myeloma; institutional investors own 11.26% of the stock.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.86.

IMMX has been the topic of several research reports. Needham & Company LLC started coverage on shares of Immix Biopharma in a research report on Wednesday, July 22nd. They set a "buy" rating and a $21.00 price objective on the stock. HC Wainwright increased their price target on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Citigroup reiterated a "market outperform" rating on shares of Immix Biopharma in a research report on Friday, August 14th. Morgan Stanley dropped their target price on shares of Immix Biopharma from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, Mizuho increased their price objective on shares of Immix Biopharma from $15.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, September 15th.

Immix Biopharma Stock Down 1.8%

Shares of IMMX stock opened at $11.70 on Friday. The firm has a 50 day moving average of $11.55 and a two-hundred day moving average of $10.21. The stock has a market capitalization of $837.02 million, a PE ratio of -13.30 and a beta of 0.20. Immix Biopharma has a 52 week low of $1.98 and a 52 week high of $15.10.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Analysts expect that Immix Biopharma will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Immix Biopharma

Several large investors have recently made changes to their positions in IMMX. Private Advisor Group LLC grew its position in Immix Biopharma by 9.5% in the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company's stock worth $316,000 after purchasing an additional 3,000 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Immix Biopharma during the second quarter valued at approximately $41,000. Allworth Financial LP acquired a new stake in Immix Biopharma in the fourth quarter worth approximately $30,000. Compass Financial Management LLC bought a new position in Immix Biopharma during the 2nd quarter valued at $56,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of Immix Biopharma during the 2nd quarter valued at $103,000. 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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