Zacks Investment Research upgraded shares of Immune Design (NASDAQ:IMDZ) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $2.00 price objective on the biotechnology company’s stock.
According to Zacks, “Immune Design's primary candidate, G100 is being developed for merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. We are positive about 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, heavy dependence on other companies for revenue growth increases the company’s vulnerability too. However, Immune Design in October 2018, discontinued CMB305 cancer vaccine program following a review of its portfolio. Shares of the company underperformed the industry, year to date. Loss estimates have narrowed ahead opf the Q3 earnings release.”
Several other equities research analysts also recently weighed in on IMDZ. Leerink Swann downgraded shares of Immune Design from an outperform rating to a market perform rating in a research note on Friday, October 12th. HC Wainwright set a $8.00 target price on shares of Immune Design and gave the stock a buy rating in a research note on Friday, October 12th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $11.00 target price on shares of Immune Design in a research note 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. The stock presently has an average rating of Buy and an average price target of $7.25.
Immune Design (NASDAQ:IMDZ) last announced its earnings results on Wednesday, August 1st. The biotechnology company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.01. Immune Design had a negative net margin of 2,324.21% and a negative return on equity of 46.95%. The firm had revenue of $0.76 million for the quarter, compared to the consensus estimate of $0.64 million. As a group, equities research analysts forecast that Immune Design will post -1.2 earnings per share for the current year.
Several large investors have recently made changes to their positions in IMDZ. Portolan Capital Management LLC purchased a new stake in shares of Immune Design in the 2nd quarter valued at approximately $2,024,000. Dimensional Fund Advisors LP increased its position in shares of Immune Design by 132.4% in the 2nd 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 last quarter. BlackRock Inc. increased its position in shares of Immune Design by 10.6% in the 2nd 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 last quarter. Alps Advisors Inc. purchased a new stake in shares of Immune Design in the 2nd quarter valued at approximately $318,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Immune Design in the 2nd quarter valued at approximately $192,000. 49.41% of the stock is currently owned by institutional investors.
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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