Jefferies Financial Group Upgrades Prima BioMed (NASDAQ:IMMP) to “Strong-Buy”

Prima BioMed (NASDAQ:IMMP) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other analysts also recently issued reports on IMMP. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th. Maxim Group upgraded Prima BioMed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.50.

Prima BioMed Trading Down 1.0%

IMMP opened at $0.33 on Monday. Prima BioMed has a 52-week low of $0.29 and a 52-week high of $3.53. The company has a 50 day moving average of $0.38 and a two-hundred day moving average of $0.57.

Shares of Prima BioMed are scheduled to reverse split on Monday, September 28th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

Prima BioMed (NASDAQ:IMMP) last issued its earnings results on Thursday, July 30th. The biotechnology company reported ($0.09) EPS for the quarter. The firm had revenue of $3.68 million for the quarter.

Prima BioMed Company Profile

Prima BioMed Limited was an Australian biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research centered on treatments designed to activate or enhance the immune system’s ability to recognize and attack abnormal cells.

Its lead development program was eftilagimod alpha, also known as IMP321, a soluble LAG-3 protein intended to stimulate antigen-presenting cells and support broader immune responses. Prima BioMed evaluated the therapy in combination with existing cancer treatments, including chemotherapy and immune checkpoint inhibitors, across several solid-tumor indications.

The company conducted clinical-development activities internationally, including in Australia, Europe and the United States.