Immuneering Corporation (NASDAQ:IMRX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Immuneering Corporation (NASDAQ:IMRX) have been assigned a consensus rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $17.50.

Several brokerages have recently weighed in on IMRX. Cantor Fitzgerald started coverage on Immuneering in a research report on Wednesday, July 8th. They set an “overweight” rating and a $17.00 target price on the stock. Needham & Company LLC upped their price objective on Immuneering from $11.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immuneering in a research report on Wednesday, June 24th. UBS Group set a $14.00 target price on shares of Immuneering in a report on Thursday, August 6th. Finally, Wall Street Zen cut Immuneering from a “hold” rating to a “sell” rating in a report on Monday, July 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd acquired a new stake in Immuneering in the 2nd quarter valued at $86,000. Integrated Wealth Concepts LLC bought a new position in Immuneering during the 2nd quarter valued at $34,000. Corient Private Wealth LP acquired a new stake in shares of Immuneering during the 2nd quarter valued at $385,000. Focus Financial Network Inc. acquired a new position in Immuneering in the 2nd quarter worth approximately $62,000. Finally, PVG Asset Management Corp purchased a new position in Immuneering in the first quarter valued at about $773,000. 67.65% of the stock is owned by hedge funds and other institutional investors.

Immuneering Stock Performance

IMRX opened at $4.48 on Monday. The stock has a market capitalization of $289.86 million, a PE ratio of -4.31 and a beta of 0.40. Immuneering has a one year low of $3.86 and a one year high of $10.08. The business’s 50 day moving average price is $4.73 and its 200 day moving average price is $4.96.

Immuneering (NASDAQ:IMRX) last posted its earnings results on Wednesday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.01). As a group, equities research analysts forecast that Immuneering will post -1.09 earnings per share for the current fiscal year.

Immuneering Company Profile

Immuneering Corporation is a clinical-stage biotechnology company focused on developing medicines for cancer patients with limited treatment options. The company’s research centers on the mitogen-activated protein kinase (MAPK) pathway, a cellular signaling network frequently altered in solid tumors, including cancers driven by RAS mutations.

Immuneering’s lead product candidate is IMM-1-104, an oral therapy designed to provide deep and sustained inhibition of the MAPK pathway while using intermittent exposure to help normal cells recover.