In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Immutep Limited (IMMP), with a price target of $7. The company’s shares opened today at $2.15.
McCarthy noted:
“Immutep reported 1H19 with ~$19M (A$26M) in cash and cash equivalents. This includes the $5.2M in proceeds from a private placement in December 2018. At the current burn rate of ~$4M per quarter, we estimate that Immutep has sufficient cash runway into mid-2020.”
According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -1.2% and a 33.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Aridis Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Immutep Limited with a $7 average price target.
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The company has a one-year high of $4.21 and a one-year low of $1.70. Currently, Immutep Limited has an average volume of 34.7K.
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Immutep Ltd. is a biotechnology company, which engages in the research and development of immunotherapeutic treatments for cancer and autoimmune diseases. Its lead product is IMP321, which involves in clinical development for the treatment of breast cancer and melanoma. The company was founded on May 21, 1987 and is headquartered in Sydney, Australia.
