Wedbush Begins Coverage on Immunic (NASDAQ:IMUX)

Key Points

• Wedbush initiated coverage of Immunic with an “outperform” rating and a $45 price target, implying approximately 180% upside from the stock’s $16.06 opening price.
• Analyst sentiment is broadly positive: Immunic has a consensus “Buy” rating and an average price target of $47.25, although ratings range from “Strong Buy” to “Sell.”
• Immunic reported quarterly EPS of -$0.80, beating the consensus estimate of -$1.16. The clinical-stage biotechnology company is developing oral therapies, including lead candidate IMU-838 for inflammatory and autoimmune diseases.

Investment analysts at Wedbush assumed coverage on shares of Immunic (NASDAQ:IMUX - Get Free Report) in a research report issued on Monday, MarketBeat reports. The firm set an "outperform" rating and a $45.00 price target on the stock. Wedbush's price objective suggests a potential upside of 180.20% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Lifesci Capital upgraded Immunic to a "strong-buy" rating in a report on Monday, May 4th. LADENBURG THALM/SH SH upgraded shares of Immunic to a "strong-buy" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunic in a research report on Friday, May 29th. Wall Street Zen raised shares of Immunic from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, B. Riley Financial cut their price objective on shares of Immunic from $40.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $47.25.

Immunic Stock Performance

Shares of IMUX stock opened at $16.06 on Monday. Immunic has a 1 year low of $5.06 and a 1 year high of $16.86. The firm's 50 day moving average is $14.45 and its 200-day moving average is $12.10. The firm has a market capitalization of $219.06 million, a price-to-earnings ratio of -3.67 and a beta of 1.41.

Immunic (NASDAQ:IMUX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.36. On average, equities research analysts forecast that Immunic will post -3.93 earnings per share for the current fiscal year.

Institutional Trading of Immunic

A number of large investors have recently made changes to their positions in IMUX. Nantahala Capital Management LLC acquired a new position in Immunic in the fourth quarter valued at about $2,337,000. Millennium Management LLC lifted its holdings in shares of Immunic by 544.6% during the 4th quarter. Millennium Management LLC now owns 3,419,299 shares of the company's stock valued at $1,825,000 after purchasing an additional 2,888,829 shares in the last quarter. Avidity Partners Management LP grew its position in shares of Immunic by 42.6% in the 1st quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company's stock valued at $7,436,000 after purchasing an additional 2,000,000 shares during the period. Laurion Capital Management LP grew its position in shares of Immunic by 106.3% in the 4th quarter. Laurion Capital Management LP now owns 3,882,162 shares of the company's stock valued at $2,072,000 after purchasing an additional 2,000,000 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Immunic during the 1st quarter worth approximately $1,020,000. Institutional investors own 51.82% of the company's stock.

Immunic Company Profile

Immunic, Inc is a clinical-stage biopharmaceutical company focused on developing novel oral therapies to treat chronic inflammatory and autoimmune diseases as well as certain cancers. The company's research strategy centers on small-molecule immunology, aiming to offer targeted treatments with improved safety and tolerability profiles. By modulating key signaling pathways within the immune system, Immunic seeks to address underlying disease mechanisms and achieve durable therapeutic benefits for patients.

Immunic's lead product candidate, vidofludimus calcium (IMU-838), is an oral selective dihydroorotate dehydrogenase (DHODH) inhibitor in Phase 2 clinical development for conditions including ulcerative colitis, Crohn's disease and relapsing multiple sclerosis.

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