IMV (NYSE:IMV) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of IMV (NYSE:IMV) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.00 price objective on the stock.

According to Zacks, “IMV Inc. is a clinical-stage immuno-oncology company. Its proprietary drug development platform provides a patented delivery formulation which enables controlled and prolonged exposure of antigens to the immune system. The company’s pipeline consists of DPX-Survivac, DPX-E7 and DPX-RSV which are in clinical stage. IMV Inc. is based in Halifax, Canada. “

IMV has been the subject of several other reports. Raymond James set a $10.00 price target on IMV and gave the stock an outperform rating in a report on Tuesday, October 1st. HC Wainwright set a $11.50 price target on IMV and gave the stock a buy rating in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. IMV presently has an average rating of Buy and an average target price of $8.88.

NYSE:IMV opened at $2.96 on Wednesday. The stock has a 50 day simple moving average of $2.81 and a 200 day simple moving average of $3.24. IMV has a 1-year low of $2.25 and a 1-year high of $7.07.

IMV (NYSE:IMV) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.07 million.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in IMV in the 2nd quarter valued at $37,000. Bank of Montreal Can raised its holdings in IMV by 17.5% in the 2nd quarter. Bank of Montreal Can now owns 88,889 shares of the company’s stock valued at $260,000 after acquiring an additional 13,228 shares in the last quarter. Morgan Stanley raised its holdings in IMV by 260.5% in the 2nd quarter. Morgan Stanley now owns 90,368 shares of the company’s stock valued at $264,000 after acquiring an additional 65,300 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in IMV by 3.6% in the 2nd quarter. Royal Bank of Canada now owns 98,676 shares of the company’s stock valued at $288,000 after acquiring an additional 3,453 shares in the last quarter.

IMV Company Profile

IMV, Inc is 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. The company was founded by Warwick Kimmins and Brian Lowe on March 28, 2000 and is headquartered in Halifax, Canada.

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