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Investing.com - H.C. Wainwright raised its price target on Immix Biopharma, Inc. (NASDAQ:IMMX) to $8.00 from $7.00 on Friday, while maintaining a Buy rating on the stock. Currently trading at $2.22, the stock has shown strong momentum with a 36% gain over the past six months. According to InvestingPro data, analysts maintain a consensus Buy recommendation with a $7.00 price target.
The price target increase follows Immix Biopharma’s announcement earlier this week that it received a strategic investment from Goose Capital and former Tanox, Inc. CEO Dr. Nancy T. Chang, who has joined Immix’s Board of Directors.
Under the investment terms, Immix issued approximately 3.8 million shares of common stock at $2.37 per share, along with non-transferrable warrants to purchase 2.9 million shares at an exercise price of $2.00.
The company’s pro forma cash position at the end of the second quarter of 2025 now stands at approximately $20.3 million, assuming full exercise of the warrants, which H.C. Wainwright believes will provide operational runway into the second quarter of 2026.
H.C. Wainwright’s updated price target reflects its DCF-based valuation moving forward, with the firm reiterating its Buy rating on Immix Biopharma stock.
In other recent news, Immix Biopharma, Inc. has secured a strategic investment from Goose Capital, with Dr. Nancy T. Chang, a founding member, bringing her extensive pharmaceutical development experience to the partnership. Immix Biopharma is also making strides in its NEXICART-2 clinical trial for AL amyloidosis, having expanded the trial to 18 sites across the United States. This expansion aims to increase patient access to its NXC-201 CAR-T cell therapy, which has shown a favorable safety profile with no neurotoxicity observed in patients with low-volume disease. The company plans to seek external partnerships to extend its CAR-T therapy programs to other diseases beyond AL amyloidosis.
Additionally, H.C. Wainwright has reiterated its Buy rating for Immix Biopharma, highlighting the company’s accelerated progress in its clinical trial. The firm maintains a $7.00 price target for the stock. These developments underscore Immix Biopharma’s commitment to advancing its therapeutic programs and expanding its reach in the biopharmaceutical field.
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