IMV’s (IMV) “Buy” Rating Reiterated at HC Wainwright
HC Wainwright restated their buy rating on shares of IMV (NYSE:IMV) in a research report released on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $11.50 target price on the stock.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $11.50 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. Our valuation is currently based on the opportunities in the U.S. for only DPX-Survivac, the leading asset, in ovarian cancer (approximately 43% valuation contribution, 30% chance of success), DLBCL (15% valuation contribution, 15% chance of success), and the indications in the basket trial (41% valuation contribution, 10% chance of success).”,” the firm’s analyst commented.
Several other analysts have also recently weighed in on the stock. Echelon Wealth Partners reaffirmed a buy rating on shares of IMV in a research note on Tuesday, June 4th. Raymond James set a $10.00 price objective on shares of IMV and gave the stock an outperform rating in a research note on Monday, June 3rd. B. Riley initiated coverage on shares of IMV in a research note on Wednesday, May 29th. They set a buy rating and a $11.00 price objective on the stock. Finally, Zacks Investment Research raised shares of IMV from a sell rating to a buy rating and set a $4.25 price target on the stock in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating, IMV has a consensus rating of Buy and a consensus price target of $9.19.
IMV (NYSE:IMV) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The firm had revenue of $0.06 million for the quarter.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of IMV by 565.3% during the first quarter. Morgan Stanley now owns 25,068 shares of the company’s stock worth $101,000 after acquiring an additional 21,300 shares during the last quarter. FIL Ltd increased its holdings in IMV by 6.6% in the first quarter. FIL Ltd now owns 2,862,000 shares of the company’s stock valued at $11,458,000 after buying an additional 177,000 shares during the last quarter. Ruffer LLP increased its holdings in IMV by 10.6% in the first quarter. Ruffer LLP now owns 6,801,225 shares of the company’s stock valued at $27,313,000 after buying an additional 652,000 shares during the last quarter. Ironwood Investment Management LLC bought a new stake in IMV in the first quarter valued at about $135,000. Finally, Hartford Financial Management Inc. increased its holdings in IMV by 20.1% in the first quarter. Hartford Financial Management Inc. now owns 32,250 shares of the company’s stock valued at $129,000 after buying an additional 5,400 shares during the last quarter.
IMV, Inc is a clinical-stage biopharmaceutical company, which engages in the development of cancer immunotherapies and infectious disease vaccines. The firm’s patented platform, DepoVax, provides controlled and prolonged exposure of antigens and adjuvant to the immune system. The company was founded by Warwick Kimmins and Brian Lowe on March 28, 2000 and is headquartered in Halifax, Canada.
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