Immix Biopharma, Inc. (NASDAQ:IMMX) Stock Has Average Target Price of $24.29 According to Analysts

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $24.29.

Several brokerages have weighed in on IMMX. Needham & Company LLC lifted their price target on shares of Immix Biopharma from $21.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Morgan Stanley reissued an “overweight” rating on shares of Immix Biopharma in a research note on Tuesday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Thursday, October 15th. Citigroup restated a “market outperform” rating on shares of Immix Biopharma in a research note on Wednesday, September 30th. Finally, Mizuho upped their target price on shares of Immix Biopharma from $15.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 15th.

Hedge Funds Weigh In On Immix Biopharma

Large investors have recently made changes to their positions in the business. Sowell Financial Services LLC purchased a new position in Immix Biopharma in the 3rd quarter worth approximately $256,000. Nisa Investment Advisors LLC purchased a new stake in Immix Biopharma during the 3rd quarter valued at approximately $52,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Immix Biopharma during the 3rd quarter valued at approximately $313,000. Opaleye Management Inc. bought a new stake in shares of Immix Biopharma during the second quarter valued at approximately $24,177,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Immix Biopharma during the second quarter valued at approximately $184,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Immix Biopharma Stock Down 1.1%

Shares of IMMX opened at $8.06 on Tuesday. The business has a 50-day simple moving average of $11.37 and a two-hundred day simple moving average of $9.37. Immix Biopharma has a 52 week low of $2.85 and a 52 week high of $15.10. The stock has a market cap of $576.61 million, a price-to-earnings ratio of -9.16 and a beta of 0.24.

Immix Biopharma (NASDAQ:IMMX) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). On average, equities analysts anticipate that Immix Biopharma will post -0.76 earnings per share for the current fiscal year.

Immix Biopharma Company Profile

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for patients with difficult-to-treat cancers and other serious diseases. The company’s research and development activities are centered on engineered immune-cell treatments intended to target malignant cells.

Its lead product candidate is NXC-201, an investigational autologous chimeric antigen receptor T-cell (CAR-T) therapy designed to target B-cell maturation antigen (BCMA). NXC-201 is being evaluated in clinical studies for relapsed or refractory multiple myeloma and relapsed or refractory AL amyloidosis, a rare blood disorder in which abnormal plasma cells produce misfolded proteins.

Immix Biopharma was founded in 2012 and is headquartered in Los Angeles, California.