Immix Biopharma (NASDAQ:IMMX) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Immix Biopharma (NASDAQ:IMMX) in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $21.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on the company. Bank of America assumed coverage on Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price objective for the company. Citigroup assumed coverage on Immix Biopharma in a research note on Thursday, June 18th. They issued a “buy” rating on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $23.00 target price on shares of Immix Biopharma in a report on Friday, March 27th. Morgan Stanley assumed coverage on shares of Immix Biopharma in a research report on Wednesday, March 25th. They set an “overweight” rating and a $20.00 price target for the company. Finally, Lifesci Capital initiated coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Immix Biopharma has an average rating of “Moderate Buy” and a consensus price target of $20.71.

Immix Biopharma Stock Down 3.2%

Shares of NASDAQ:IMMX opened at $8.52 on Wednesday. The firm has a 50 day moving average of $9.37 and a 200 day moving average of $8.54. The company has a market capitalization of $463.57 million, a price-to-earnings ratio of -9.26 and a beta of 0.09. Immix Biopharma has a 52 week low of $1.94 and a 52 week high of $12.14.

Immix Biopharma (NASDAQ:IMMX) last announced its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, sell-side analysts expect that Immix Biopharma will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

A number of large investors have recently made changes to their positions in IMMX. Private Advisor Group LLC increased its position in shares of Immix Biopharma by 9.5% in the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock valued at $316,000 after acquiring an additional 3,000 shares during the period. Allworth Financial LP purchased a new stake in Immix Biopharma during the 4th quarter valued at about $30,000. Everhart Financial Group Inc. purchased a new stake in Immix Biopharma during the 2nd quarter valued at about $103,000. Velan Capital Investment Management LP increased its holdings in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock valued at $73,000 after purchasing an additional 10,000 shares during the period. Finally, Mathes Company Inc. acquired a new position in shares of Immix Biopharma in the fourth quarter valued at about $56,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

About Immix Biopharma

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.