Maxim Group Reiterates a Buy Rating on Prima Biomed

By Ryan Adsit

In a report released today, Jason McCarthy from Maxim Group reiterated a Buy rating on Prima Biomed (NASDAQ: PBMD), with a price target of $5. The company’s shares opened today at $0.82, close to its 52-week low of $0.72.

McCarthy noted:

“We note that at the SITC (Society for Immunotherapy of Cancer) meeting (November 9-13), a poster presented by Lipson et. al. titled “Initial Experience Administering BMS-986016, a Monoclonal Antibody That Targets Lymphocyte Activation Gene (LAG)-3, Alone and in Combination With Nivolumab to Patients With Hematologic and Solid Malignancies” demonstrated positive safety and early signs of efficacy across a variety of solid tumors.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -8.9% and a 31.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Stellar Biotechnologies, and Inovio Pharmaceuticals.

Prima Biomed has an analyst consensus of Strong Buy.

The company has a one year high of $1.54 and a one year low of $0.72. Currently, Prima Biomed has an average volume of 77.81K.

Prima BioMed Ltd. is a biotechnology company, which engages in developing oncology therapies in the field of immunotherapy. Its lead product is IMP321, which involves in clinical development for the treatment of cancer indications. The company was founded on May 21, 1987 and is headquartered in Sydney, Australia.