Immuneering (NASDAQ:IMRX) Given "Buy" Rating at HC Wainwright

Key Points

• Immuneering's stock has been restated with a "buy" rating by HC Wainwright, along with a price target of $11.00, indicating a potential upside of 62.96% from current levels.
• Other brokerages have increased their price targets for Immuneering, with Oppenheimer setting a new target of $30.00 and Chardan Capital at $20.00, suggesting strong market confidence.
• The company's stock has recently traded down by 16.5% and currently has an average price target of $16.40 from analysts, who rate it as a "Moderate Buy."

Immuneering (NASDAQ:IMRX - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright's price objective points to a potential upside of 62.96% from the company's current price.

Several other brokerages have also commented on IMRX. Oppenheimer raised their price target on Immuneering from $21.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Chardan Capital lifted their target price on Immuneering from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Friday. Mizuho lifted their target price on Immuneering from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Finally, Needham & Company LLC boosted their price target on Immuneering from $8.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.40.

Immuneering Trading Down 16.5%

Shares of Immuneering stock opened at $6.75 on Tuesday. The firm has a market cap of $280.60 million, a P/E ratio of -3.57 and a beta of 0.43. Immuneering has a 12 month low of $1.10 and a 12 month high of $10.08. The stock's fifty day moving average price is $5.48 and its 200-day moving average price is $3.27.

Immuneering (NASDAQ:IMRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40). Analysts forecast that Immuneering will post -1.86 earnings per share for the current year.

Institutional Investors Weigh In On Immuneering

A number of large investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in Immuneering in the second quarter valued at approximately $215,000. Bridgeway Capital Management LLC boosted its position in Immuneering by 57.9% in the second quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company's stock valued at $322,000 after buying an additional 35,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in Immuneering in the second quarter valued at approximately $90,000. Kingsview Wealth Management LLC purchased a new stake in Immuneering in the second quarter valued at approximately $47,000. Finally, Geode Capital Management LLC boosted its position in Immuneering by 2.0% in the second quarter. Geode Capital Management LLC now owns 230,275 shares of the company's stock valued at $776,000 after buying an additional 4,458 shares during the last quarter. Hedge funds and other institutional investors own 67.65% of the company's stock.

About Immuneering

Immuneering Corporation, a clinical-stage oncology company, engages in the development of medicines for broad populations of cancer patients. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor currently under Phase 1/2a clinical trial to treat patients with cancer, including pancreatic, melanoma, colorectal, and non-small cell lung cancer caused by mutations of RAS and/or RAF; and IMM-6-415 is in Investigational New Drug application to treat solid tumors.

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.