H.C. Wainwright Thinks Immune Design’s Stock is Going to Recover

H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Immune Design (NASDAQ: IMDZ) today and set a price target of $7.75. The company’s shares closed yesterday at $2.79, close to its 52-week low of $2.75.

Pantginis wrote:

“Valuation and risks to price target achievement. We maintain our Buy rating, though are lowering our price target to $7.75 from $11. Our price target change is based on removing CMB305 from our projections. 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. We believe upside potential exists as the company explores additional tumor indications for G100, as well as potential contribution from pipeline development.”

According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.3% and a 32.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

Immune Design has an analyst consensus of Strong Buy, with a price target consensus of $7.38.

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Based on Immune Design’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.81 million. In comparison, last year the company had a GAAP net loss of $13.42 million.

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Immune Design Corp. is a clinical-stage immunotherapy company focused on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. It develops multiple product candidates from its discovery platforms, ZVex and GLAAS. The company was founded by Steven G. Reed and David Baltimore on February 20, 2008 and is headquartered in Seattle, WA.

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