Immunic (NASDAQ:IMUX) Stock Bumped Up to “Strong-Buy” by Zacks Research

Immunic (NASDAQ:IMUX) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other analysts have also issued research reports about the company. Roth Capital reissued a “buy” rating on shares of Immunic in a report on Tuesday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Immunic in a research note on Thursday, September 10th. Wall Street Zen cut Immunic from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Immunic in a research report on Thursday, September 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunic in a research note on Wednesday, August 26th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $35.43.

Immunic Price Performance

Shares of NASDAQ:IMUX opened at $7.22 on Wednesday. The stock’s 50-day simple moving average is $11.23 and its two-hundred day simple moving average is $12.52. Immunic has a 52-week low of $5.06 and a 52-week high of $17.43.

Immunic (NASDAQ:IMUX) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.36. Equities analysts anticipate that Immunic will post -3.71 earnings per share for the current year.

Institutional Investors Weigh In On Immunic

Institutional investors have recently bought and sold shares of the business. Braidwell LP purchased a new stake in Immunic in the 2nd quarter worth $9,914,000. Avidity Partners Management LP raised its holdings in Immunic by 42.6% during the first quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company’s stock valued at $7,436,000 after acquiring an additional 2,000,000 shares during the period. CTC Alternative Strategies Ltd. bought a new stake in Immunic during the first quarter valued at about $27,000. Bank of America Corp DE lifted its position in shares of Immunic by 80,724.2% in the first quarter. Bank of America Corp DE now owns 143,867 shares of the company’s stock valued at $160,000 after acquiring an additional 143,689 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Immunic in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 51.82% of the company’s stock.

Immunic Company Profile

Immunic, Inc is a clinical-stage biotechnology company developing orally administered therapies for chronic inflammatory and autoimmune diseases. The company focuses on selectively modulating the immune system while seeking to avoid broad immunosuppression, with an emphasis on conditions affecting the central nervous system and gastrointestinal tract.

Immunic’s lead investigational product is vidofludimus calcium, formerly known as IMU-838. The oral, selective dihydroorotate dehydrogenase inhibitor is being studied in clinical trials for multiple sclerosis, including relapsing and progressive forms of the disease.