Immunic (NASDAQ:IMUX) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Immunic (NASDAQ:IMUX) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Immunic in a research note on Friday, October 23rd. They issued an “overweight” rating for the company. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Immunic in a research note on Thursday, September 10th. Ladenburg Thalmann & Co. Inc. upgraded Immunic to a “strong-buy” rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunic in a report on Wednesday, August 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Immunic in a research report on Thursday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.43.

Immunic Price Performance

NASDAQ:IMUX opened at $8.12 on Tuesday. The stock has a market cap of $110.79 million, a P/E ratio of -1.85 and a beta of 1.48. Immunic has a one year low of $5.06 and a one year high of $17.43. The company has a fifty day moving average price of $8.93 and a 200 day moving average price of $11.51.

Immunic (NASDAQ:IMUX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.36. As a group, equities research analysts anticipate that Immunic will post -3.69 EPS for the current year.

Hedge Funds Weigh In On Immunic

Hedge funds have recently made changes to their positions in the business. Avidity Partners Management LP lifted its holdings in shares of Immunic by 42.6% during the 1st quarter. Avidity Partners Management LP now owns 6,699,411 shares of the company’s stock worth $7,436,000 after acquiring an additional 2,000,000 shares during the period. Aberdeen Group plc increased its stake in Immunic by 32.3% in the third quarter. Aberdeen Group plc now owns 1,090,427 shares of the company’s stock valued at $10,141,000 after acquiring an additional 266,034 shares during the period. Renaissance Technologies LLC bought a new stake in Immunic in the first quarter valued at about $1,020,000. Braidwell LP bought a new stake in Immunic in the second quarter valued at about $9,914,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Immunic in the first quarter worth about $187,000. Institutional investors and hedge funds own 51.82% of the company’s stock.

Immunic Company Profile

Immunic, Inc. (NASDAQ: IMUX) is a clinical-stage biopharmaceutical company developing orally administered therapies for chronic inflammatory and autoimmune diseases. The company focuses on treatments designed to address significant unmet needs while potentially offering convenient alternatives to injectable or infusion-based therapies. Immunic’s lead product candidate is vidofludimus calcium, formerly known as IMU-838. It is a selective oral inhibitor of dihydroorotate dehydrogenase (DHODH) being developed for multiple sclerosis, including relapsing and progressive forms of the disease.