Immix Biopharma (NASDAQ:IMMX) Price Target Raised to $30.00

Immix Biopharma (NASDAQ:IMMX) had its price target lifted by Needham & Company LLC from $21.00 to $30.00 in a report published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. 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 target for the company. Mizuho lifted their price objective on Immix Biopharma from $15.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. HC Wainwright boosted their price objective on Immix Biopharma from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Morgan Stanley lowered their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Finally, Lifesci Capital began coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.14.

Immix Biopharma Stock Down 1.6%

Shares of IMMX stock opened at $10.23 on Tuesday. Immix Biopharma has a 12-month low of $1.99 and a 12-month high of $15.10. The firm has a market capitalization of $731.85 million, a price-to-earnings ratio of -11.62 and a beta of 0.24. The firm has a fifty day moving average of $11.69 and a 200-day moving average of $10.23.

Immix Biopharma (NASDAQ:IMMX) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Research analysts expect that Immix Biopharma will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On Immix Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opaleye Management Inc. acquired a new position in Immix Biopharma during the 2nd quarter worth approximately $24,177,000. Engineers Gate Manager LP acquired a new stake in shares of Immix Biopharma in the second quarter valued at approximately $184,000. Squarepoint Ops LLC raised its holdings in shares of Immix Biopharma by 57.5% in the second quarter. Squarepoint Ops LLC now owns 70,062 shares of the company’s stock valued at $722,000 after purchasing an additional 25,572 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of Immix Biopharma in the second quarter worth $62,000. Finally, Velan Capital Investment Management LP lifted its position in shares of Immix Biopharma by 46.6% in the second quarter. Velan Capital Investment Management LP now owns 1,085,000 shares of the company’s stock worth $11,186,000 after purchasing an additional 345,000 shares in the last quarter. Institutional investors and hedge funds own 11.26% of the company’s stock.

About Immix Biopharma

Immix Biopharma, Inc (NASDAQ: IMMX) is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.