IMV Inc. (IMV) Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on IMV Inc. (IMVResearch Report), with a price target of $11.50. The company’s shares opened today at $2.25, equals to its 52-week low of $2.25.

Pantginis noted:

“Valuation and risks to price target achievement. We reiterate our Buy rating and $11.50 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our valuation is currently based on the opportunities in the U.S. for only DPX-Survivac, the leading asset, in ovarian cancer (approximately 43% valuation contribution, 30% chance of success), DLBCL (15% valuation contribution, 15% chance of success), and the indications in the basket trial (41% valuation contribution, 10% chance of success).”

According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.5% and a 29.5% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.

Currently, the analyst consensus on IMV Inc. is a Strong Buy with an average price target of $11.25.

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Based on IMV Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.47 million. In comparison, last year the company had a GAAP net loss of $4.02 million.

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IMV, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the development of cancer immunotherapies and infectious disease vaccines. The firm’s patented platform, DepoVax, provides controlled and prolonged exposure of antigens and adjuvant to the immune system.