IMV (NYSE:IMV) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of IMV (NYSE:IMV) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. The brokerage currently has $2.75 price target on the stock.

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. “

Other equities research analysts have also recently issued research reports about the stock. B. Riley initiated coverage on shares of IMV in a research note on Wednesday, May 29th. They issued a buy rating and a $11.00 price objective for the company. Raymond James set a $10.00 price objective on shares of IMV and gave the company an outperform rating in a research note on Monday, August 12th. Echelon Wealth Partners reaffirmed a buy rating on shares of IMV in a research note on Tuesday, June 4th. Finally, HC Wainwright reaffirmed a buy rating and issued a $11.50 price objective on shares of IMV in a research note on Wednesday, June 12th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus price target of $8.81.

Shares of IMV stock opened at $3.11 on Wednesday. IMV has a 52-week low of $2.25 and a 52-week high of $7.07. The company has a fifty day moving average of $2.90 and a 200-day moving average of $3.77.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Manhattan Co. lifted its holdings in shares of IMV by 75.7% during the first quarter. First Manhattan Co. now owns 154,518 shares of the company’s stock worth $620,000 after purchasing an additional 66,550 shares during the period. Bank of Montreal Can lifted its holdings in shares of IMV by 18.5% during the first quarter. Bank of Montreal Can now owns 75,661 shares of the company’s stock worth $304,000 after purchasing an additional 11,807 shares during the period. Hartford Financial Management Inc. lifted its holdings in shares of IMV by 20.1% during the first quarter. Hartford Financial Management Inc. now owns 32,250 shares of the company’s stock worth $129,000 after purchasing an additional 5,400 shares during the period. Ironwood Investment Management LLC acquired a new position in shares of IMV during the first quarter worth $135,000. Finally, Ruffer LLP raised its stake in IMV by 10.6% during the first quarter. Ruffer LLP now owns 6,801,225 shares of the company’s stock worth $27,313,000 after buying an additional 652,000 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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