Needham & Company LLC Begins Coverage on Immix Biopharma (NASDAQ:IMMX)

Equities researchers at Needham & Company LLC started coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 138.64% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Immix Biopharma in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 target price for the company. Citigroup initiated coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating on the stock. Bank of America initiated coverage on Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Finally, Mizuho upped their target price on Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.71.

Immix Biopharma Stock Down 6.5%

Immix Biopharma stock opened at $8.80 on Wednesday. The business’s 50-day moving average price is $9.40 and its 200 day moving average price is $8.54. The firm has a market cap of $478.81 million, a price-to-earnings ratio of -9.57 and a beta of 0.09. Immix Biopharma has a 52 week low of $1.94 and a 52 week high of $12.14.

Immix Biopharma (NASDAQ:IMMX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Equities analysts expect that Immix Biopharma will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC boosted its stake in Immix Biopharma by 9.5% during the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock worth $316,000 after purchasing an additional 3,000 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Immix Biopharma during the fourth quarter worth $30,000. Velan Capital Investment Management LP raised its position in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock valued at $73,000 after buying an additional 10,000 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Immix Biopharma in the second quarter valued at about $103,000. Finally, Mathes Company Inc. purchased a new position in shares of Immix Biopharma in the fourth quarter worth about $56,000. Institutional investors and hedge funds own 11.26% of the company’s stock.

Immix Biopharma Company Profile

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.