Immune Design (IMDZ) Earns “Buy” Rating from Cowen

Cowen reissued their buy rating on shares of Immune Design (NASDAQ:IMDZ) in a research note released on Monday.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Immune Design from a buy rating to a hold rating in a report on Friday, November 10th. ValuEngine lowered Immune Design from a sell rating to a strong sell rating in a report on Saturday, October 21st. Wells Fargo & Company lowered Immune Design from an outperform rating to a market perform rating and lowered their price objective for the company from $29.00 to $10.00 in a report on Tuesday, October 17th. Finally, Royal Bank of Canada began coverage on Immune Design in a report on Thursday, September 14th. They issued an outperform rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Immune Design currently has an average rating of Hold and a consensus price target of $13.19.

Shares of Immune Design (IMDZ) remained flat at $$3.75 during mid-day trading on Monday. 638,100 shares of the stock were exchanged, compared to its average volume of 316,735. Immune Design has a 12 month low of $3.50 and a 12 month high of $13.05.

Immune Design (NASDAQ:IMDZ) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. The firm had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $0.62 million. Immune Design had a negative return on equity of 68.69% and a negative net margin of 619.62%. research analysts forecast that Immune Design will post -1.89 earnings per share for the current year.

In related news, major shareholder Leo Guthart bought 10,000 shares of Immune Design stock in a transaction that occurred on Monday, September 18th. The shares were purchased at an average price of $9.70 per share, with a total value of $97,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Franklin M. Berger bought 25,000 shares of Immune Design stock in a transaction that occurred on Wednesday, October 25th. The stock was bought at an average cost of $4.26 per share, for a total transaction of $106,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $213,000. The disclosure for this purchase can be found here. Insiders have bought a total of 5,300,000 shares of company stock worth $21,874,900 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board acquired a new position in Immune Design in the 2nd quarter valued at $117,000. Alliancebernstein L.P. acquired a new position in Immune Design in the 2nd quarter valued at $118,000. Bank of America Corp DE raised its holdings in Immune Design by 123.3% in the 1st quarter. Bank of America Corp DE now owns 15,246 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 8,418 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Immune Design in the 2nd quarter valued at $153,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Immune Design by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,896 shares of the biotechnology company’s stock worth $184,000 after buying an additional 1,600 shares during the last quarter. 29.38% of the stock is currently owned by hedge funds and other institutional investors.

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About Immune Design

Immune Design Corp. is a clinical-stage immunotherapy company. The Company is focused on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. The Company has engineered its technologies to activate the immune system’s natural ability to create tumor-specific cytotoxic T cells (CTLs) to fight cancer.

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