Zacks Investment Research cut shares of Immune Design (NASDAQ:IMDZ) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Immune Design posted narrower-than-expected loss but sales missed estimates in the third quarter of 2018. The company’s primary candidate, G100 is being developed for merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma.The company’s strategic agreements with companies like Sanofi, Roche and Merck is positive as itnot 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, heavy dependence on other companies for revenue growth increases the company’s vulnerability. However, in October 2018, Immune Design discontinued CMB305 cancer vaccine program, following a review of its portfolio. Shares of the company underperformed the industry year to date.”
IMDZ has been the subject of a number of other research reports. HC Wainwright set a $8.00 price target on Immune Design and gave the company a buy rating in a report on Friday, October 12th. Royal Bank of Canada reiterated an outperform rating and issued a $11.00 price target on shares of Immune Design in a report on Friday, October 12th. Finally, Leerink Swann lowered Immune Design from an outperform rating to a market perform rating in a report on Friday, October 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $7.19.
Immune Design (NASDAQ:IMDZ) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.03. The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.75 million. Immune Design had a negative return on equity of 43.44% and a negative net margin of 2,409.84%. On average, equities analysts predict that Immune Design will post -1.14 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Immune Design by 10.6% in the second quarter. BlackRock Inc. now owns 2,121,271 shares of the biotechnology company’s stock valued at $9,651,000 after purchasing an additional 204,171 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Immune Design by 132.4% in the second quarter. Dimensional Fund Advisors LP now owns 447,026 shares of the biotechnology company’s stock valued at $2,034,000 after purchasing an additional 254,696 shares during the period. DRW Securities LLC boosted its holdings in shares of Immune Design by 59.2% in the second quarter. DRW Securities LLC now owns 58,900 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 21,900 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Immune Design in the second quarter valued at approximately $318,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Immune Design in the second quarter valued at approximately $2,024,000. Hedge funds and other institutional investors own 49.02% of the company’s stock.
Immune Design Company Profile
Immune Design Corp., a clinical-stage immunotherapy company, engages in the research and development of in vivo treatments for cancer. The company primarily develops oncology product candidates based on its ZVex and GLAAS discovery platforms. Its lead products include CMB305, a cancer vaccine targeting the NY-ESO-1 tumor antigen, which is in Phase 2 trial for the treatment of patients with synovial and MRCL sarcoma as a monotherapy; and G100, an antigen agnostic intratumoral product candidate as a monotherapy and combination therapy for the treatment of patients with follicular non-Hodgkin Lymphoma.
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