Immunic (NASDAQ:IMUX) Raised to Strong-Buy at LADENBURG THALM/SH SH

Key Points

• Immunic (NASDAQ:IMUX) has been upgraded to a "strong-buy" rating by LADENBURG THALM/SH SH, joining a trend of positive evaluations from other analysts.
• The stock currently has an average price target of $9.50, reflecting a mix of ratings including one "Strong Buy", five "Buy", and one "Sell".
• Institutional investors own approximately 51.82% of Immunic's stock, highlighting significant interest from hedge funds in the company's potential.

Immunic (NASDAQ:IMUX - Get Free Report) was upgraded by equities research analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on the company. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price target on shares of Immunic in a research note on Thursday, September 25th. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Immunic in a research note on Friday, September 26th. Chardan Capital started coverage on Immunic in a research note on Monday, September 29th. They set a "buy" rating and a $13.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Immunic in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.50.

Immunic Price Performance

Shares of IMUX stock opened at $0.80 on Thursday. The stock has a market cap of $78.95 million, a PE ratio of -0.85 and a beta of 1.56. The stock has a 50-day moving average of $0.87 and a 200-day moving average of $0.90. Immunic has a one year low of $0.56 and a one year high of $1.73.

Immunic (NASDAQ:IMUX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). As a group, research analysts anticipate that Immunic will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Immunic

Several hedge funds have recently made changes to their positions in IMUX. Aberdeen Group plc bought a new position in shares of Immunic during the 1st quarter worth approximately $1,155,000. 683 Capital Management LLC boosted its holdings in shares of Immunic by 28.6% in the 1st quarter. 683 Capital Management LLC now owns 900,000 shares of the company's stock valued at $981,000 after buying an additional 200,000 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Immunic by 279.3% in the 1st quarter. Jane Street Group LLC now owns 207,401 shares of the company's stock valued at $226,000 after buying an additional 152,726 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Immunic by 19.1% in the 1st quarter. Focus Partners Wealth now owns 2,583,457 shares of the company's stock valued at $2,816,000 after buying an additional 415,104 shares during the last quarter. 51.82% of the stock is owned by institutional investors.

About Immunic

Immunic, Inc, a biotechnology company, develops a pipeline of selective oral immunology therapies for the treatment of chronic inflammatory and autoimmune diseases in the United States and Germany. Its lead development program is IMU-838, which is in Phase 3 clinical trial, for treatment of multiple sclerosis, including relapsing and progressive multiple sclerosis; and moderate-to-severe ulcerative colitis.

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