IMV Inc. (IMV) Receives a Buy from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on IMV Inc. (IMVResearch Report) today and set a price target of $11.50. The company’s shares closed on Friday at $4.33.

Pantginis commented:

“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 ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.1% and a 33.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

IMV Inc. has an analyst consensus of Moderate Buy, with a price target consensus of $11.25, a 159.8% upside from current levels. In a report issued on May 29, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $11 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 $2.42 million.

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