IMV Inc. (IMV) Receives a Buy from B.Riley FBR

By Austin Angelo

B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on IMV Inc. (IMVResearch Report) today and set a price target of $11. The company’s shares closed on Friday at $2.40, close to its 52-week low of $2.25.

Mamtani observed:

“IMV, Inc. (IMV) reported 2Q19 financial results and provided a corporate update, mainly relating to the progress of DPX-Survivac, the company’s lead clinical stage candidate, in ongoing mid-stage trials including (1) Ph. IIa monotherapy in recurrent ovarian cancer (rOC) patients with low baseline tumor burden (BTB), (2) Ph. II SPiReL study of Keytruda combination in relapsed/refractory Lymphoma (r/r DLBCL) and (3) Ph. IIb basket study of Keytruda combination in five solid tumor types.”

According to TipRanks.com, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.1% and a 22.7% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMV Inc. with a $11.25 average price target, representing a 368.8% upside. In a report issued on August 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.50 price target.

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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.