Immix Biopharma (NASDAQ:IMMX) Coverage Initiated at Needham & Company LLC

Key Points

• Needham & Company initiated coverage on Immix Biopharma with a Buy rating and a $21 price target, implying about 119% upside from the current share price.
• Other analysts are also generally positive on the stock, with several firms recently assigning Buy/Overweight-type ratings. MarketBeat says the consensus is a Moderate Buy with an average target price of $20.71.
• Immix Biopharma reported a smaller-than-expected quarterly loss of $0.18 per share, beating estimates by a penny. The clinical-stage biopharma company is focused on immuno-oncology, with lead candidate IMX-110.

Analysts at Needham & Company LLC started coverage on shares of Immix Biopharma (NASDAQ:IMMX - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $21.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 119.44% from the stock's current price.

IMMX has been the topic of several other reports. Morgan Stanley assumed coverage on Immix Biopharma in a research report on Wednesday, March 25th. They set an "overweight" rating and a $20.00 target price on the stock. Citigroup began coverage on shares of Immix Biopharma in a report on Thursday, June 18th. They set a "buy" rating for the company. Lifesci Capital initiated coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They issued an "outperform" rating and a $19.00 target price for the company. Bank of America assumed coverage on Immix Biopharma in a research note on Thursday, June 18th. They set a "buy" rating and a $27.00 price objective on the stock. Finally, Mizuho boosted their price objective on shares of Immix Biopharma from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.71.

Immix Biopharma Stock Performance

Shares of NASDAQ:IMMX opened at $9.57 on Wednesday. The stock has a market capitalization of $520.70 million, a price-to-earnings ratio of -10.40 and a beta of 0.09. The stock's 50-day simple moving average is $9.44 and its two-hundred day simple moving average is $8.48. Immix Biopharma has a 52-week low of $1.94 and a 52-week high of $12.14.

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

Hedge Funds Weigh In On Immix Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in shares of Immix Biopharma in the fourth quarter valued at about $30,000. Everhart Financial Group Inc. bought a new position in shares of Immix Biopharma during the second quarter valued at approximately $103,000. Mathes Company Inc. purchased a new position in Immix Biopharma during the fourth quarter valued at approximately $56,000. Balyasny Asset Management L.P. bought a new position in Immix Biopharma in the fourth quarter worth approximately $67,000. Finally, Kera Capital Partners Inc. bought a new position in Immix Biopharma in the fourth quarter worth approximately $68,000. Institutional investors own 11.26% of the company's stock.

About Immix Biopharma

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.

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