Wall Street Zen Upgrades Prima BioMed (NASDAQ:IMMP) to Hold

Key Points

• Wall Street Zen upgraded Prima BioMed (NASDAQ:IMMP) to a "hold", but several other firms have recently downgraded the stock and MarketBeat shows a consensus rating of "Reduce" with a consensus target price of $5.50.
• IMMP is trading very low (opened at $0.58, 50‑day/200‑day moving averages $1.53/$2.06) after reporting quarterly EPS of -$0.10 on $1.37M revenue and analysts forecast about -0.4 EPS for the year; institutional ownership is low (2.32%) though Jane Street modestly increased its stake.

Prima BioMed (NASDAQ:IMMP - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a report issued on Saturday.

IMMP has been the subject of several other research reports. Citizens Jmp downgraded shares of Prima BioMed from an "outperform" rating to a "market perform" rating in a research note on Friday, March 13th. Robert W. Baird downgraded shares of Prima BioMed from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $7.00 to $1.00 in a research note on Friday, March 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Prima BioMed in a research note on Monday, December 29th. Finally, Maxim Group downgraded shares of Prima BioMed from a "buy" rating to a "hold" rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Prima BioMed has a consensus rating of "Reduce" and a consensus target price of $5.50.

Prima BioMed Price Performance

NASDAQ:IMMP opened at $0.58 on Friday. The business's fifty day moving average price is $1.53 and its 200 day moving average price is $2.06. Prima BioMed has a 12 month low of $0.29 and a 12 month high of $3.53.

Prima BioMed (NASDAQ:IMMP - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $1.37 million for the quarter. As a group, equities research analysts predict that Prima BioMed will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC raised its holdings in Prima BioMed Ltd (NASDAQ:IMMP - Free Report) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company's stock after purchasing an additional 6,617 shares during the quarter. Jane Street Group LLC's holdings in Prima BioMed were worth $91,000 as of its most recent filing with the Securities and Exchange Commission. 2.32% of the stock is owned by institutional investors and hedge funds.

Prima BioMed Company Profile

Prima BioMed, trading as IMMP on NASDAQ, is a clinical-stage biotechnology company specializing in the development of immunotherapy products for cancer treatment. The company's core technology platform centers on targeting the lymphocyte activation gene-3 (LAG-3), a checkpoint receptor that modulates T-cell activity. Prima BioMed's lead candidate, eftilagimod alpha (IMP321), is a soluble LAG-3 protein designed to enhance antigen-presenting cell function and stimulate a tumor-specific immune response.

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