Immix Biopharma (NASDAQ:IMMX) Price Target Raised to $26.00

Immix Biopharma (NASDAQ:IMMX) had its price objective lifted by Mizuho from $15.00 to $26.00 in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on IMMX. Needham & Company LLC started coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 target price for the company. Bank of America started coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating and a $27.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of Immix Biopharma in a research note on Friday, August 14th. Lifesci Capital assumed coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.86.

Immix Biopharma Stock Up 6.7%

IMMX opened at $12.72 on Tuesday. Immix Biopharma has a twelve month low of $1.98 and a twelve month high of $15.10. The company’s 50-day moving average price is $11.38 and its two-hundred day moving average price is $10.08. The stock has a market cap of $909.99 million, a price-to-earnings ratio of -14.45 and a beta of 0.20.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, sell-side analysts anticipate that Immix Biopharma will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Immix Biopharma

Hedge funds have recently made changes to their positions in the stock. Blue Owl Capital Holdings LP bought a new position in shares of Immix Biopharma in the second quarter valued at approximately $4,511,000. LGT Fund Management Co Ltd. increased its holdings in Immix Biopharma by 233.3% during the 1st quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock worth $3,795,000 after acquiring an additional 291,594 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Immix Biopharma in the 2nd quarter worth approximately $913,000. Wellington Management Group LLP purchased a new stake in Immix Biopharma in the 2nd quarter worth approximately $15,191,000. Finally, Janus Henderson Group PLC boosted its holdings in Immix Biopharma by 22.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after purchasing an additional 880,434 shares during the period. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Immix Biopharma Company Profile

Immix Biopharma, Inc (NASDAQ: IMMX) is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.