Imunon (NASDAQ:IMNN) Earns Buy Rating from Analysts at Maxim Group
by Jessica Moore · The Cerbat GemResearch analysts at Maxim Group started coverage on shares of Imunon (NASDAQ:IMNN – Get Free Report) in a research report issued on Friday,Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Maxim Group’s price objective indicates a potential upside of 220.31% from the company’s previous close.
IMNN has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Imunon in a research note on Thursday, January 22nd. reiterated a “buy” rating on shares of Imunon in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Imunon currently has a consensus rating of “Hold” and an average target price of $132.50.
Check Out Our Latest Report on Imunon
Imunon Stock Performance
Shares of IMNN stock opened at $3.12 on Friday. The company has a market capitalization of $12.24 million, a price-to-earnings ratio of -0.39 and a beta of 2.13. The stock’s 50 day simple moving average is $3.12 and its 200 day simple moving average is $3.75. Imunon has a twelve month low of $2.52 and a twelve month high of $41.22.
Imunon (NASDAQ:IMNN – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($1.29) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.14. The company had revenue of ($0.73) million for the quarter, compared to analyst estimates of ($0.73) million. On average, analysts forecast that Imunon will post -1.68 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new stake in shares of Imunon during the fourth quarter worth about $1,017,000. DRW Securities LLC raised its holdings in Imunon by 6.9% during the 4th quarter. DRW Securities LLC now owns 58,830 shares of the company’s stock worth $224,000 after buying an additional 3,803 shares during the period. Finally, Riverview Capital Advisers LLC boosted its holdings in shares of Imunon by 193.3% in the third quarter. Riverview Capital Advisers LLC now owns 34,364 shares of the company’s stock valued at $176,000 after buying an additional 22,649 shares during the period. 4.47% of the stock is currently owned by institutional investors.
Imunon Company Profile
Imunon, Inc, a clinical-stage biotechnology company, engages in the development of immunotherapies and vaccines to treat cancer and infectious diseases. The company’s lead clinical program IMNN-001, a DNA-based immunotherapy for the localized treatment of ovarian cancer that is in Phase II clinical development. Its preclinical stage products include IMNN-101, a COVID-19 booster vaccine; IMNN-102 for the treatment of Lassa virus; and IMNN-201, a Trp2 tumor associated antigen cancer vaccine in melanoma.