Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Immix Biopharma, retaining the price target of $7.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Robert Burns has given his Buy rating due to a combination of factors related to Immix Biopharma’s recent progress and potential in the clinical trial landscape. The expansion of the NEXICART-2 trial to include 18 sites across the U.S. is a significant development, as it is expected to accelerate patient enrollment and advance the company’s timeline towards a Biologics License Application submission for FDA approval. This strategic move is seen as a positive step in enhancing the company’s prospects in the competitive field of biotechnology.
Moreover, the interim data from the NEXICART-2 trial presented at the ASCO meeting showed promising results, with a 100% response rate and a 70% complete response rate among patients treated with NXC-201. The absence of severe adverse events further underscores the potential of NXC-201 as a treatment for relapsed/refractory AL amyloidosis, a condition with limited current treatment options. These encouraging clinical outcomes, coupled with the projected peak sales of approximately $475 million by 2035, reinforce the Buy rating and the 12-month price target of $7.
According to TipRanks, Burns is an analyst with an average return of -15.3% and a 32.14% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Exelixis, and Zymeworks.