IMV (NYSE:IMV) Lifted to “Buy” at Zacks Investment Research

IMV (NYSE:IMV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $2.75 price target on the stock. Zacks Investment Research‘s price target indicates a potential downside of 0.36% from the stock’s current price.

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. “

A number of other equities research analysts have also weighed in on the stock. Raymond James set a $10.00 price objective on shares of IMV and gave the company an “outperform” rating in a report on Monday. HC Wainwright reissued a “buy” rating and set a $11.50 price objective on shares of IMV in a report on Wednesday, June 12th. Echelon Wealth Partners reissued a “buy” rating on shares of IMV in a report on Tuesday, June 4th. Finally, B. Riley started coverage on shares of IMV in a report on Wednesday, May 29th. They set a “buy” rating and a $11.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $8.81.

Shares of IMV opened at $2.76 on Wednesday. IMV has a 1-year low of $2.25 and a 1-year high of $7.07. The company’s fifty day moving average price is $2.90 and its 200-day moving average price is $3.78.

A number of large investors have recently bought and sold shares of IMV. Citadel Advisors LLC purchased a new stake in IMV in the second quarter valued at $37,000. Hartford Financial Management Inc. boosted its holdings in IMV by 20.1% in the first quarter. Hartford Financial Management Inc. now owns 32,250 shares of the company’s stock valued at $129,000 after purchasing an additional 5,400 shares during the last quarter. Ironwood Investment Management LLC purchased a new stake in IMV in the first quarter valued at $135,000. Bank of Montreal Can boosted its holdings in IMV by 17.5% in the second quarter. Bank of Montreal Can now owns 88,889 shares of the company’s stock valued at $260,000 after purchasing an additional 13,228 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in IMV by 260.5% in the second quarter. Morgan Stanley now owns 90,368 shares of the company’s stock valued at $264,000 after purchasing an additional 65,300 shares during 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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