I-Mab (NASDAQ:IMAB) Given Average Recommendation of "Buy" by Brokerages

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

Shares of I-Mab (NASDAQ:IMAB) have been given a consensus rating of "Buy" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $87.00.

A number of research firms have commented on IMAB. Cantor Fitzgerald lifted their price objective on shares of I-Mab from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 13th. Daiwa Capital Markets began coverage on shares of I-Mab in a report on Wednesday, June 2nd. They set a "buy" rating for the company. China Renaissance Securities boosted their price target on shares of I-Mab from $78.91 to $102.98 and gave the company a "buy" rating in a report on Thursday, July 8th. HC Wainwright restated a "buy" rating on shares of I-Mab in a research note on Tuesday, March 30th. Finally, Zacks Investment Research cut shares of I-Mab from a "hold" rating to a "sell" rating in a research report on Thursday, June 10th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hillhouse Capital Advisors LTD. increased its stake in I-Mab by 342.1% in the 1st quarter. Hillhouse Capital Advisors LTD. now owns 6,616,170 shares of the company's stock worth $320,686,000 after purchasing an additional 5,119,630 shares in the last quarter. Cederberg Capital Ltd purchased a new position in I-Mab in the 1st quarter worth about $103,181,000. Ward Ferry Management BVI Ltd increased its stake in I-Mab by 137.9% in the 1st quarter. Ward Ferry Management BVI Ltd now owns 1,791,496 shares of the company's stock worth $86,834,000 after purchasing an additional 1,038,559 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in I-Mab by 2.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 877,891 shares of the company's stock worth $42,551,000 after purchasing an additional 21,179 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in I-Mab by 17.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 742,569 shares of the company's stock worth $35,992,000 after purchasing an additional 109,181 shares in the last quarter. 32.16% of the stock is currently owned by hedge funds and other institutional investors.

IMAB stock opened at $77.99 on Thursday. I-Mab has a twelve month low of $27.50 and a twelve month high of $85.40. The firm has a market capitalization of $6.00 billion, a P/E ratio of 73.58 and a beta of 0.75. The stock's 50 day moving average is $75.02.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

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Analyst Recommendations for I-Mab (NASDAQ:IMAB)

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 [email protected]

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