Maxim Group Reiterates Buy Rating for Immutep (IMMP)

Immutep (NASDAQ:IMMP)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a research report issued on Thursday. They currently have a $7.00 price target on the biotechnology company’s stock. Maxim Group’s price target suggests a potential upside of 295.48% from the company’s previous close.

The analysts wrote, “Immutep announced it received a $1M milestone payment from China partner EOC Pharma (private) for IMP321 (eftilagimod alpha), Immutep’s soluble LAG-3 candidate. An IND was filed in China in December 2017. We estimate Immutep currently has $12M on the balance sheet (including the EOC payment) and with a quarterly burn rate of $3M-$3.5M, has runway into 2H18.””

Immutep (NASDAQ:IMMP) traded down $0.04 during midday trading on Thursday, reaching $1.77. The company’s stock had a trading volume of 15,429 shares, compared to its average volume of 26,006. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.06 and a current ratio of 6.06. Immutep has a 12 month low of $1.25 and a 12 month high of $3.24.

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Immutep Company Profile

Immutep Ltd, formerly Prima BioMed Ltd., is a biotechnology company. The Company is engaged in research, development and commercialization of licensed medical biotechnology. It is also focused on development of immunotherapeutic products. The Company operates through Cancer Immunotherapy segment. Its core technologies are based on the Lymphocyte-activation gene 3 (LAG-3) immune control mechanism, which is involved in regulation of the T cell immune response.

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