Immuneering (NASDAQ:IMRX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Immuneering (NASDAQ:IMRX – Get Rating) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The firm currently has $4.75 price target on the stock.

According to Zacks, “Immuneering Corporation is a biopharmaceutical company advancing a pipeline of oncology and neuroscience product candidates. The company’s product candidate includes IMM-1-104. Immuneering Corporation is based in CAMBRIDGE, Mass. “

Separately, Oppenheimer began coverage on Immuneering in a report on Thursday, March 31st. They issued an outperform rating and a $25.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $29.13.

IMRX stock opened at $5.03 on Wednesday. Immuneering has a 1-year low of $4.11 and a 1-year high of $33.99. The business’s 50 day simple moving average is $6.38 and its 200 day simple moving average is $13.51.

Immuneering (NASDAQ:IMRX – Get Rating) last posted its earnings results on Thursday, March 10th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). The business had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.60 million. Immuneering had a negative return on equity of 38.00% and a negative net margin of 21.73%. Equities analysts forecast that Immuneering will post -2.04 EPS for the current year.

In related news, Director Ann E. Berman bought 6,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was purchased at an average cost of $6.40 per share, for a total transaction of $38,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 10,900 shares of company stock valued at $73,621.

Hedge funds have recently made changes to their positions in the stock. UBS Group AG bought a new stake in shares of Immuneering during the 3rd quarter worth $30,000. Citigroup Inc. bought a new stake in shares of Immuneering during the 3rd quarter worth $33,000. New York State Common Retirement Fund bought a new stake in shares of Immuneering during the 3rd quarter worth $45,000. Metropolitan Life Insurance Co NY bought a new position in Immuneering in the third quarter valued at about $75,000. Finally, California State Teachers Retirement System bought a new position in Immuneering in the third quarter valued at about $119,000. Institutional investors and hedge funds own 47.41% of the company’s stock.

About Immuneering (Get Rating)

Immuneering Corporation, a biopharmaceutical company, focuses on the oncology and neuroscience product candidates. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor to treat patients with cancer, including pancreatic, melanoma, colorectal, and non-small cell lung cancer caused by mutations of RAS and/or RAF; and IMM-6-415 to treat solid tumors.

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