Immix Biopharma (NASDAQ:IMMX) Given New $30.00 Price Target at Needham & Company LLC

Immix Biopharma (NASDAQ:IMMX) had its target price raised by investment analysts at Needham & Company LLC from $21.00 to $30.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 194.15% from the company’s current price.

A number of other research firms also recently commented on IMMX. Bank of America initiated coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating and a $27.00 target price on the stock. Mizuho increased their price objective on shares of Immix Biopharma from $15.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. Lifesci Capital began coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 price objective on the stock. Citigroup reissued a “market outperform” rating on shares of Immix Biopharma in a research note on Friday, August 14th. Finally, Morgan Stanley lowered their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

Immix Biopharma Stock Down 11.1%

IMMX traded down $1.27 during trading hours on Tuesday, reaching $10.20. 3,789,871 shares of the company’s stock traded hands, compared to its average volume of 1,302,943. The firm has a 50-day moving average price of $11.62 and a 200 day moving average price of $10.23. The firm has a market capitalization of $729.64 million, a PE ratio of -11.72 and a beta of 0.20. Immix Biopharma has a 52-week low of $1.99 and a 52-week high of $15.10.

Immix Biopharma (NASDAQ:IMMX) last issued its earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Equities analysts predict that Immix Biopharma will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Several institutional investors have recently made changes to their positions in IMMX. Jupiter Topco LLC purchased a new position in Immix Biopharma in the second quarter valued at $100,816,000. Janus Henderson Group PLC boosted its stake in shares of Immix Biopharma by 22.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock worth $43,698,000 after acquiring an additional 880,434 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Immix Biopharma during the 2nd quarter worth about $30,827,000. Eventide Asset Management LLC acquired a new stake in shares of Immix Biopharma during the 4th quarter valued at about $13,331,000. Finally, Opaleye Management Inc. acquired a new stake in shares of Immix Biopharma during the 2nd quarter valued at about $24,177,000. 11.26% of the stock is owned by hedge funds and other institutional investors.

About Immix Biopharma

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.