Immix Biopharma (NASDAQ:IMMX) Earns Buy Rating from Analysts at Bank of America

Analysts at Bank of America began coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 195.73% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Tuesday, April 21st. Morgan Stanley initiated coverage on Immix Biopharma in a research note on Wednesday, March 25th. They set an “overweight” rating and a $20.00 price target on the stock. Lifesci Capital initiated coverage on Immix Biopharma in a research note on Wednesday. They set an “outperform” rating and a $19.00 price target on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $23.00 price objective on shares of Immix Biopharma in a research report on Friday, March 27th. Finally, Mizuho upped their price objective on Immix Biopharma from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Immix Biopharma Stock Up 4.5%

NASDAQ:IMMX opened at $9.13 on Thursday. The stock’s fifty day moving average is $9.21 and its two-hundred day moving average is $7.71. Immix Biopharma has a 52 week low of $1.94 and a 52 week high of $11.61. The stock has a market capitalization of $496.77 million, a price-to-earnings ratio of -9.92 and a beta of 0.10.

Immix Biopharma (NASDAQ:IMMX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. On average, sell-side analysts expect that Immix Biopharma will post -0.7 EPS for the current fiscal year.

Institutional Trading of Immix Biopharma

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Immix Biopharma by 256,968.8% during the first quarter. Bank of America Corp DE now owns 41,131 shares of the company’s stock worth $375,000 after acquiring an additional 41,115 shares during the period. Janus Henderson Group PLC increased its holdings in Immix Biopharma by 22.5% in the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after buying an additional 880,434 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Immix Biopharma in the first quarter valued at $264,000. Sei Investments Co. increased its holdings in Immix Biopharma by 100.0% in the first quarter. Sei Investments Co. now owns 147,140 shares of the company’s stock valued at $1,340,000 after buying an additional 73,570 shares during the last quarter. Finally, LGT Fund Management Co Ltd. increased its holdings in Immix Biopharma by 233.3% in the first quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock valued at $3,795,000 after buying an additional 291,594 shares during the last quarter. Hedge funds and other institutional investors 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.