Zacks Investment Research cut shares of Immune Design (NASDAQ:IMDZ) from a buy rating to a hold rating in a research note released on Monday, January 8th.
According to Zacks, “Immune Design's primary candidate, CMB305 is being evaluated for soft tissue sarcoma and G100 for Merkel cell carcinoma, follicular non-Hodgkin Lymphoma and sarcoma. Further, it had productive discussion with the FDA regarding CMB305 and has planned to initiate a pivotal phase III trial evaluating CMB305 as monotherapy in synovial sarcoma patients by mid 2018. The company is working towards the potential registration paths of these products. We are positive on its strategic agreements with companies like Sanofi, Roche, and Merck, which not only validate its GLAAS platform, but also provide the company with funds in the form of collaboration and license revenues. Although such collaborations boost its pipeline development, dependence on other companies for revenue growth increases vulnerability too. Estimates have remained stable ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”
A number of other brokerages have also commented on IMDZ. ValuEngine lowered shares of Immune Design from a hold rating to a sell rating in a research report on Monday, October 2nd. Cowen reissued a buy rating on shares of Immune Design in a research report on Monday, December 11th. Wells Fargo & Co lowered shares of Immune Design from an outperform rating to a market perform rating and dropped their price target for the stock from $29.00 to $10.00 in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada assumed coverage on shares of Immune Design in a research report on Thursday, September 14th. They issued an outperform rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $13.06.
Immune Design (NASDAQ:IMDZ) last announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.52) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.11. The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.62 million. Immune Design had a negative net margin of 619.62% and a negative return on equity of 68.69%. research analysts predict that Immune Design will post -1.89 earnings per share for the current year.
In other news, Director Peter Svennilson acquired 2,681,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $4.10 per share, with a total value of $10,992,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carlos V. Paya sold 7,970 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $4.17, for a total transaction of $33,234.90. Following the sale, the chief executive officer now directly owns 114,560 shares of the company’s stock, valued at approximately $477,715.20. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 5,310,000 shares of company stock valued at $21,855,900 and have sold 13,959 shares valued at $58,209. Company insiders own 20.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IMDZ. Rhumbline Advisers grew its stake in shares of Immune Design by 53.9% during the second quarter. Rhumbline Advisers now owns 19,694 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 6,896 shares during the last quarter. State of Wisconsin Investment Board bought a new position in Immune Design in the second quarter valued at approximately $117,000. Bank of New York Mellon Corp boosted its stake in Immune Design by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 79,211 shares of the biotechnology company’s stock valued at $773,000 after acquiring an additional 17,563 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Immune Design by 118.7% during the second quarter. JPMorgan Chase & Co. now owns 530,702 shares of the biotechnology company’s stock worth $5,175,000 after purchasing an additional 288,009 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Immune Design by 2.7% during the second quarter. Franklin Resources Inc. now owns 760,253 shares of the biotechnology company’s stock worth $7,412,000 after purchasing an additional 20,000 shares in the last quarter. 29.34% of the stock is currently owned by institutional investors and hedge funds.
About Immune Design
Immune Design Corp. is a clinical-stage immunotherapy company. The Company is focused on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. The Company has engineered its technologies to activate the immune system’s natural ability to create tumor-specific cytotoxic T cells (CTLs) to fight cancer.
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