Immix Biopharma (NASDAQ:IMMX) Given New $8.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has raised the price target for Immix Biopharma (NASDAQ:IMMX) from $7.00 to $8.00, indicating a potential upside of 260.36% from its previous close.
• Other analysts have adjusted their ratings, with Zacks Research downgrading the stock from a "strong-buy" to a "hold" and Wall Street Zen moving from "hold" to "sell."
• Immix Biopharma currently has a market cap of $64 million and reported a quarterly earnings miss of ($0.22) EPS, slightly below the consensus estimate.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) had its target price hoisted by equities researchers at HC Wainwright from $7.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 260.36% from the stock's previous close.

Other analysts also recently issued reports about the company. Zacks Research downgraded Immix Biopharma from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen downgraded Immix Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.00.

Immix Biopharma Trading Up 1.4%

Shares of NASDAQ IMMX opened at $2.22 on Friday. Immix Biopharma has a 12-month low of $1.26 and a 12-month high of $3.20. The company has a market cap of $64.00 million, a P/E ratio of -2.88 and a beta of 0.25. The stock has a fifty day moving average price of $2.48 and a 200 day moving average price of $2.12.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, sell-side analysts forecast that Immix Biopharma will post -0.87 EPS for the current fiscal year.

Institutional Trading of Immix Biopharma

Several large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Immix Biopharma during the fourth quarter valued at about $39,000. Tritonpoint Wealth LLC acquired a new stake in shares of Immix Biopharma during the second quarter valued at about $51,000. Finally, Velan Capital Investment Management LP acquired a new stake in shares of Immix Biopharma during the second quarter valued at about $52,000. 11.26% of the stock is currently owned by institutional investors and hedge funds.

Immix Biopharma Company Profile

Immix Biopharma, Inc, a clinical-stage biopharmaceutical company, engages in developing tissue-specific therapeutics in oncology and inflammation in the United States and Australia. The company is developing IMX-110 that is in Phase 1b/2a clinical trials for the treatment of soft tissue sarcoma and solid tumors; IMX-111, a tissue-specific biologic for the treatment of colorectal cancers; and IMX-120, a tissue-specific biologic for the treatment of ulcerative colitis and severe Crohn's disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.