Prima BioMed Ltd (NASDAQ:IMMP) Given Consensus Rating of “Hold” by Brokerages

Shares of Prima BioMed Ltd (NASDAQ:IMMP) have received a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.50.

IMMP has been the topic of several analyst reports. Maxim Group upgraded Prima BioMed from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prima BioMed in a research note on Friday, July 10th. Finally, Jefferies Financial Group raised Prima BioMed from a “hold” rating to a “strong-buy” rating in a report on Monday.

Prima BioMed Stock Down 1.0%

Shares of NASDAQ:IMMP opened at $0.33 on Thursday. Prima BioMed has a 52 week low of $0.29 and a 52 week high of $3.53. The company has a 50 day moving average price of $0.38 and a two-hundred day moving average price of $0.57.

Shares of Prima BioMed are going 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 closing bell on Sunday, September 27th.

Prima BioMed (NASDAQ:IMMP) last announced its earnings results on Thursday, July 30th. The biotechnology company reported ($0.09) earnings per share for the quarter. The company 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.