Prima BioMed (NASDAQ:IMMP) Upgraded at Jefferies Financial Group

Prima BioMed (NASDAQ:IMMP) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Several other equities analysts have also recently commented on the stock. Maxim Group upgraded shares of Prima BioMed from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prima BioMed in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.50.

Prima BioMed Price Performance

NASDAQ IMMP opened at $0.33 on Monday. The company has a 50 day simple moving average of $0.38 and a 200-day simple moving average of $0.57. Prima BioMed has a 52-week low of $0.29 and a 52-week high of $3.53.

Prima BioMed’s stock is set to reverse split before the market opens on Monday, September 28th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

Prima BioMed (NASDAQ:IMMP) last released its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.09) earnings per share for the quarter. The business had revenue of $3.68 million for the quarter.

Prima BioMed Company Profile

Prima BioMed Limited was an Australian biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research centered on treatments designed to activate or enhance the immune system’s ability to recognize and attack abnormal cells.

Its lead development program was eftilagimod alpha, also known as IMP321, a soluble LAG-3 protein intended to stimulate antigen-presenting cells and support broader immune responses. Prima BioMed evaluated the therapy in combination with existing cancer treatments, including chemotherapy and immune checkpoint inhibitors, across several solid-tumor indications.

The company conducted clinical-development activities internationally, including in Australia, Europe and the United States.