HC Wainwright Reiterates Buy Rating for Immune Design (IMDZ)

Immune Design (NASDAQ:IMDZ)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Monday. They currently have a $8.00 target price on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 444.22% from the company’s previous close.

The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating and $7.75 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. We believe upside potential exists as the company explores additional tumor indications for G100, as well as potential contribution from pipeline development. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.””

Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Immune Design from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Tuesday, October 16th. ValuEngine upgraded Immune Design from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Leerink Swann downgraded Immune Design from an “outperform” rating to a “market perform” rating in a research report on Friday, October 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $11.00 target price on shares of Immune Design in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Immune Design has an average rating of “Buy” and an average target price of $7.13.

IMDZ traded up $0.02 during trading on Monday, hitting $1.47. 19,222 shares of the company’s stock traded hands, compared to its average volume of 287,016. Immune Design has a 12-month low of $1.10 and a 12-month high of $5.05. The company has a market cap of $74.17 million, a price-to-earnings ratio of -0.84 and a beta of 2.43.

Immune Design (NASDAQ:IMDZ) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.03. The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.75 million. Immune Design had a negative return on equity of 43.44% and a negative net margin of 2,409.84%. Equities analysts expect that Immune Design will post -1.14 earnings per share for the current fiscal year.

In other news, major shareholder Bvf Partners L. P/Il sold 902,000 shares of Immune Design stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $1.83, for a total value of $1,650,660.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 927,466 shares of company stock worth $1,690,895. Insiders own 18.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of Immune Design in the third quarter worth about $36,000. Nexthera Capital LP purchased a new position in Immune Design in the third quarter worth about $146,000. Bank of America Corp DE grew its position in Immune Design by 231.9% in the second quarter. Bank of America Corp DE now owns 46,754 shares of the biotechnology company’s stock worth $212,000 after acquiring an additional 32,669 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Immune Design in the third quarter worth about $508,000. Finally, Bridgeway Capital Management Inc. grew its position in Immune Design by 172.1% in the third quarter. Bridgeway Capital Management Inc. now owns 221,192 shares of the biotechnology company’s stock worth $763,000 after acquiring an additional 139,900 shares in the last quarter. 46.27% of the stock is currently owned by hedge funds and other institutional investors.

Immune Design Company Profile

Immune Design Corp., a clinical-stage immunotherapy company, engages in the research and development of in vivo treatments for cancer. The company primarily develops oncology product candidates based on its ZVex and GLAAS discovery platforms. Its lead products include CMB305, a cancer vaccine targeting the NY-ESO-1 tumor antigen, which is in Phase 2 trial for the treatment of patients with synovial and MRCL sarcoma as a monotherapy; and G100, an antigen agnostic intratumoral product candidate as a monotherapy and combination therapy for the treatment of patients with follicular non-Hodgkin Lymphoma.

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