Maxim Group Initiates Coverage on Immune Pharmaceuticals (IMNP)

Analysts at Maxim Group began coverage on shares of Immune Pharmaceuticals (NASDAQ:IMNP) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $3.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective would indicate a potential upside of 435.71% from the stock’s current price.

The analysts wrote, “Bertilimumab is a monoclonal antibody (mAb) targeting eotaxin-1, a chemokine implicated in multiple inflammatory diseases including bullous pemphigoid (BP) and ulcerative colitis (UC), with potential expansion to atopic dermatitis (AD) and asthma.””

Shares of Immune Pharmaceuticals (IMNP) traded down $0.01 during trading on Friday, hitting $0.56. The company had a trading volume of 783,044 shares, compared to its average volume of 622,225. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.03 and a quick ratio of 0.03. Immune Pharmaceuticals has a 1 year low of $0.50 and a 1 year high of $5.02. The firm has a market cap of $10.06, a P/E ratio of -0.19 and a beta of 2.59.

A hedge fund recently raised its stake in Immune Pharmaceuticals stock. Susquehanna International Group LLP increased its stake in shares of Immune Pharmaceuticals Inc (NASDAQ:IMNP) by 41.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,805 shares of the biopharmaceutical company’s stock after purchasing an additional 20,488 shares during the period. Susquehanna International Group LLP owned 0.69% of Immune Pharmaceuticals worth $215,000 as of its most recent SEC filing. Institutional investors and hedge funds own 1.60% of the company’s stock.

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About Immune Pharmaceuticals

Immune Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the development and commercialization of targeted therapeutics in the fields of immuno-inflammation and immuno-oncology. The Company’s segment is acquiring, developing and commercializing prescription drug products.

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