Prima BioMed (NASDAQ:IMMP) Stock Rating Upgraded by Jefferies Financial Group

Prima BioMed (NASDAQ:IMMP) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research firms also recently issued reports on IMMP. Maxim Group raised shares of 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 report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.50.

Prima BioMed Price Performance

Shares of IMMP stock opened at $0.33 on Monday. The stock’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.57. Prima BioMed has a twelve month low of $0.29 and a twelve month high of $3.53.

Shares of Prima BioMed are set 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 (EPS) for the quarter. The business had revenue of $3.68 million during the quarter.

About Prima BioMed

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.