Prima BioMed Ltd (ADR) (PBMD) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 5 from a previous price target of $4 . Maxim Group advised their investors in a research report released on May 12, 2016.
Many Wall Street Analysts have commented on Prima BioMed Ltd (ADR). Maxim Group Initiated Prima BioMed Ltd (ADR) on Apr 19, 2016 to “Buy”, Price Target of the shares are set at $4.
Prima BioMed Ltd (ADR) opened for trading at $0.98 and hit $1.01 on the upside on Tuesday, eventually ending the session at $0.9651, with a gain of 0.01% or 0.0001 points. The heightened volatility saw the trading volume jump to 1,77,511 shares. Company has a market cap of $66 M.
Prima BioMed Limited is an Australia-based biotechnology company. The Company is engaged in research development and commercialization of licensed medical biotechnology. The Company focuses on cancer immunotherapy research. The Company’s main pipeline of products is based on the LAG-3 immune control mechanism which plays a role in the regulation of the T cell immune response. The Company’s product is a T cell immunostimulatory factor (APC activator) IMP321 for cancer chemoimmunotherapy which has completed Phase II trials. In addition it has developed infrastructure for a cell-based therapy manufacturing platform and taken CVac an autologous dendritic cell-based product through Phase II clinical trials for ovarian cancer patients in remission. The Company’s other products include IMP731 for autoimmune disease and IMP701 for cancer and chronic infectious disease.