Immuneering (NASDAQ:IMRX) Given New $18.00 Price Target at Needham & Company LLC

Immuneering (NASDAQ:IMRX) had its price target raised by Needham & Company LLC from $11.00 to $18.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on IMRX. Cantor Fitzgerald began coverage on Immuneering in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $17.00 target price on the stock. Wall Street Zen cut Immuneering from a “hold” rating to a “sell” rating in a report on Monday. Oppenheimer reaffirmed an “outperform” rating on shares of Immuneering in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immuneering in a report on Wednesday, June 24th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Immuneering in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Immuneering Stock Down 7.5%

Shares of IMRX stock opened at $4.29 on Monday. The stock has a market cap of $277.56 million, a P/E ratio of -3.67 and a beta of 0.41. Immuneering has a 52 week low of $2.90 and a 52 week high of $10.08. The company’s fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $5.10.

Immuneering (NASDAQ:IMRX) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. On average, analysts anticipate that Immuneering will post -1.09 EPS for the current fiscal year.

Institutional Trading of Immuneering

Several hedge funds have recently made changes to their positions in IMRX. Jane Street Group LLC bought a new position in shares of Immuneering in the 1st quarter valued at about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in Immuneering during the fourth quarter worth approximately $33,000. Levin Capital Strategies L.P. purchased a new stake in Immuneering during the first quarter valued at approximately $53,000. Focus Financial Network Inc. purchased a new stake in Immuneering during the second quarter valued at approximately $62,000. Finally, Cetera Investment Advisers purchased a new stake in Immuneering during the first quarter valued at approximately $67,000. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

About Immuneering

Immuneering (Nasdaq: IMRX) is a clinical-stage biopharmaceutical company leveraging artificial intelligence and its proprietary RABIT (Repurposing and Accelerating Biotechnology Tools) platform to design and optimize small-molecule and peptide therapies. By analyzing large-scale biomedical datasets, Immuneering’s machine learning algorithms identify novel drug–target interactions, repurpose existing drug scaffolds and accelerate lead candidate selection. The company’s AI-driven approach aims to reduce development timelines and improve therapeutic profiles in areas of high unmet medical need.

The company’s lead program, IRX-2, is a small-molecule candidate currently in Phase 2 clinical trials for the treatment of painful diabetic peripheral neuropathy.