Maxim Group Sticks to Their Buy Rating for Prima Biomed

By Jason Carr

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Prima Biomed (NASDAQ: PBMD) today and set a price target of $7. The company’s shares closed last Friday at $2.56.

McCarthy noted:

“Prima announced positive safety and early efficacy data from the ongoing P2b study of IMP321 (LAG-3Ig) in combination with chemotherapy in metastatic breast cancer.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -11.7% and a 35.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Mateon Therapeutics Inc, and Soleno Therapeutics Inc.

Prima Biomed has an analyst consensus of Moderate Buy, with a price target consensus of $7.

The company has a one year high of $3.93 and a one year low of $0.71. Currently, Prima Biomed has an average volume of 28.32K.

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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.