In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on IMV Inc. (IMV), with a price target of $11.50. The company’s shares closed yesterday at $4.
Pantginis wrote:
“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 has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.1% and a 33.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on IMV Inc. is a Strong Buy with an average price target of $11.25, a 181.3% 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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The company has a one-year high of $7.07 and a one-year low of $2.90. Currently, IMV Inc. has an average volume of 28.63K.
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