Robert W. Baird Downgrades Prima BioMed (NASDAQ:IMMP) to Neutral

Prima BioMed (NASDAQ:IMMP) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Friday, MarketBeat.com reports. They presently have a $1.00 price target on the biotechnology company’s stock, down from their previous price target of $7.00. Robert W. Baird’s price target suggests a potential upside of 108.33% from the stock’s previous close.

IMMP has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Prima BioMed in a research report on Monday, December 29th. Citizens Jmp cut Prima BioMed from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Prima BioMed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.50.

Prima BioMed Stock Performance

NASDAQ IMMP opened at $0.48 on Friday. The company’s fifty day moving average is $2.80 and its two-hundred day moving average is $2.29. Prima BioMed has a 52-week low of $0.46 and a 52-week high of $3.53.

Prima BioMed (NASDAQ:IMMP) last posted its quarterly earnings data on Friday, January 30th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $1.36 million for the quarter. Research analysts predict that Prima BioMed will post -0.4 EPS for the current year.

Institutional Trading of Prima BioMed

An institutional investor recently raised its position in Prima BioMed stock. Jane Street Group LLC raised its position in shares of Prima BioMed Ltd (NASDAQ:IMMP) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,574 shares of the biotechnology company’s stock after buying an additional 6,617 shares during the period. Jane Street Group LLC’s holdings in Prima BioMed were worth $91,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.32% of the company’s stock.

Prima BioMed Company Profile

Prima BioMed, trading as IMMP on NASDAQ, is a clinical-stage biotechnology company specializing in the development of immunotherapy products for cancer treatment. The company’s core technology platform centers on targeting the lymphocyte activation gene-3 (LAG-3), a checkpoint receptor that modulates T-cell activity. Prima BioMed’s lead candidate, eftilagimod alpha (IMP321), is a soluble LAG-3 protein designed to enhance antigen-presenting cell function and stimulate a tumor-specific immune response.