Prima BioMed Ltd (NASDAQ:IMMP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Prima BioMed Ltd (NASDAQ:IMMP) have been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.50.

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of Prima BioMed from a “hold” rating to a “strong-buy” rating in a research report on Monday. Maxim Group upgraded shares of Prima BioMed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prima BioMed in a report on Friday, July 10th.

Prima BioMed Stock Down 1.0%

IMMP opened at $0.33 on Thursday. Prima BioMed has a 12-month low of $0.29 and a 12-month high of $3.53. The business has a 50 day moving average of $0.38 and a 200-day moving average 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 posted 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 during 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.