Immune Design Corp. (NASDAQ:IMDZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $4.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.74% from the company’s current price.
According to Zacks, “Immune Design reported narrower than expected loss in the third quarter of 2017. Currently, the company’s primary candidate, CMB305 is being evaluated for soft tissue sarcoma and G100 for Merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. Further, it had productive discussion with the FDA regarding CMB305 and has planned to initiate a pivotal phase III trial evaluating CMB305 as monotherapy in synovial sarcoma patients by mid 2018. The company is working towards the potential registration paths of these products. We are positive on its strategic agreements with companies like Sanofi, Roche, and Merck, which not only validate its GLAAS platform, but also provide the company with funds in the form of collaboration and license revenues. Although such collaborations boost its pipeline development, dependence on other companies for revenue growth increases vulnerability too.”
Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Immune Design Corp. from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Wells Fargo & Company downgraded shares of Immune Design Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $10.00 in a research note on Tuesday, October 17th. Royal Bank Of Canada began coverage on shares of Immune Design Corp. in a research note on Thursday, September 14th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, BidaskClub downgraded shares of Immune Design Corp. from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Immune Design Corp. has an average rating of “Buy” and an average price target of $13.19.
Shares of Immune Design Corp. (NASDAQ IMDZ) traded up $0.35 during trading on Monday, hitting $4.50. The company’s stock had a trading volume of 465,276 shares, compared to its average volume of 1,561,564. Immune Design Corp. has a 12 month low of $3.78 and a 12 month high of $13.05.
Immune Design Corp. (NASDAQ:IMDZ) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.11. The company had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.62 million. Immune Design Corp. had a negative net margin of 619.62% and a negative return on equity of 68.69%. sell-side analysts predict that Immune Design Corp. will post -1.87 EPS for the current fiscal year.
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In related news, major shareholder Leo Guthart bought 10,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were acquired at an average cost of $9.70 per share, for a total transaction of $97,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Svennilson bought 2,681,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was bought at an average price of $4.10 per share, for a total transaction of $10,992,100.00. The disclosure for this purchase can be found here. Insiders acquired a total of 5,250,000 shares of company stock worth $21,649,900 over the last 90 days. Insiders own 20.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMDZ. Bain Capital Public Equity Management LLC boosted its stake in shares of Immune Design Corp. by 393.1% during the second quarter. Bain Capital Public Equity Management LLC now owns 389,400 shares of the biotechnology company’s stock valued at $3,797,000 after purchasing an additional 310,433 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Immune Design Corp. by 118.7% during the second quarter. JPMorgan Chase & Co. now owns 530,702 shares of the biotechnology company’s stock valued at $5,175,000 after purchasing an additional 288,009 shares in the last quarter. Sectoral Asset Management Inc bought a new position in shares of Immune Design Corp. during the second quarter valued at approximately $1,641,000. Numeric Investors LLC bought a new position in shares of Immune Design Corp. during the second quarter valued at approximately $1,641,000. Finally, Vanguard Group Inc. boosted its stake in shares of Immune Design Corp. by 37.9% during the second quarter. Vanguard Group Inc. now owns 524,999 shares of the biotechnology company’s stock valued at $5,118,000 after purchasing an additional 144,408 shares in the last quarter. Hedge funds and other institutional investors own 51.76% of the company’s stock.
Immune Design Corp. Company Profile
Immune Design Corp. is a clinical-stage immunotherapy company. The Company is focused on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. The Company has engineered its technologies to activate the immune system’s natural ability to create tumor-specific cytotoxic T cells (CTLs) to fight cancer.
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