Immix Biopharma (NASDAQ:IMMX) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Immix Biopharma (NASDAQ:IMMX) posted its earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01), FiscalAI reports.

Immix Biopharma Trading Down 6.8%

Shares of IMMX stock traded down $0.59 on Thursday, reaching $8.07. The company’s stock had a trading volume of 959,607 shares, compared to its average volume of 1,235,955. The stock’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $9.57. Immix Biopharma has a 1 year low of $3.45 and a 1 year high of $15.10. The company has a market capitalization of $577.33 million, a price-to-earnings ratio of -9.17 and a beta of 0.29.

Analyst Upgrades and Downgrades

IMMX has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, October 15th. Morgan Stanley restated an “overweight” rating on shares of Immix Biopharma in a research report on Tuesday, October 20th. Mizuho set a $23.00 target price on Immix Biopharma in a report on Thursday, October 29th. Needham & Company LLC lifted their target price on Immix Biopharma from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of Immix Biopharma in a research report on Wednesday, September 30th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Immix Biopharma currently has a consensus rating of “Moderate Buy” and an average price target of $23.86.

Immix Biopharma Company Profile

Immix Biopharma is a clinical-stage biopharmaceutical company developing cell therapies for serious diseases, with a focus on relapsed or refractory AL amyloidosis, a rare condition in which abnormal proteins build up in organs and tissues. The company’s lead candidate, NXC-201, is an investigational CAR T-cell therapy designed to target BCMA, a protein found on certain plasma cells. It is being studied in clinical trials and has not been approved for commercial use. Immix Biopharma is based in the United States and is led by Chief Executive Officer Ilya Rachman.