Prima BioMed Ltd (PBMD) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Prima BioMed Ltd (NASDAQ:PBMD) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $2.75 target price on the stock.
According to Zacks, “Prima Biomed Ltd is a biotechnology company focused on developing oncology therapies in the field of immunotherapy. The Company’s key product candidates in development include CVac, an autologous dendritic cell vaccine for ovarian cancer, monoclonal antibodies for multiple tumor types, and an oral formulation for the Human Papilloma Virus. Prima Biomed Ltd is based in Sydney, Australia. “
Other analysts have also recently issued research reports about the stock. HC Wainwright reissued a buy rating and issued a $7.50 target price on shares of Prima BioMed in a research note on Saturday, January 7th. Maxim Group reissued a buy rating and issued a $7.00 target price (down previously from $16.67) on shares of Prima BioMed in a research note on Friday, December 30th. Five research analysts have rated the stock with a buy rating, Prima BioMed currently has an average rating of Buy and an average price target of $5.85.
Shares of Prima BioMed (NASDAQ:PBMD) traded up 1.17% during midday trading on Thursday, reaching $2.59. The company had a trading volume of 20,662 shares. The company’s market capitalization is $53.40 million. Prima BioMed has a 12 month low of $1.70 and a 12 month high of $4.13. The firm’s 50 day moving average price is $1.12 and its 200-day moving average price is $0.94.
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About Prima BioMed
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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