Immix Biopharma Reports Quarterly Earnings, Surpassing Expectations

Immix Biopharma (NASDAQ:IMMX - Get Free Report) released its quarterly earnings report on Monday. The company posted an earnings per share (EPS) of ($0.16) for the quarter, which exceeded analysts' expectations of ($0.25) by a margin of $0.09, according to a report by Zacks.

Stock Performance Overview

On Wednesday, shares of Immix Biopharma fell slightly by $0.02 during the trading hours, closing at $1.83. The trading volume for the day was 12,323 shares, which is lower than the average volume of 133,311. Currently, Immix Biopharma holds a market capitalization of $50.34 million, a negative price-to-earnings (PE) ratio of -2.15, and a beta value of 0.26. The stock has a 50-day simple moving average of $1.86 and a 200-day simple moving average of $1.86. Over the past year, Immix Biopharma's shares have seen a low of $1.26 and a high of $3.23.

Analysts' Predictions for Future Growth

In a recent analysis, HC Wainwright maintained a 'buy' rating on Immix Biopharma shares and set a price target of $7.00. This rating suggests confidence in the company's future performance in the market.

Company Overview

Immix Biopharma, Inc. is a clinical-stage biopharmaceutical company dedicated to developing tissue-specific therapeutics focused on oncology and inflammation in both the United States and Australia. Among its projects, the company is working on IMX-110, which is currently in Phase 1b/2a clinical trials aimed at treating soft tissue sarcoma and solid tumors. Additionally, it is developing IMX-111, a tissue-specific biologic intended for the treatment of colorectal cancers, as well as IMX-120, which targets ulcerative colitis and severe Crohn's disease.

Conclusion

As Immix Biopharma continues to report earnings and progress in their clinical trials, analysts and investors will be closely monitoring their developments. The company's positive earnings report signals potential growth and interest from Wall Street.

Earnings, Stocks, Performance