I-Mab (NASDAQ:IMAB) Receives $88.60 Average PT from Brokerages

I-Mab (NASDAQ:IMAB) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $88.60.

IMAB has been the topic of several analyst reports. China Renaissance Securities lifted their price target on shares of I-Mab from $78.91 to $102.98 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Daiwa Capital Markets began coverage on shares of I-Mab in a research report on Wednesday, June 2nd. They issued a “buy” rating for the company. Cantor Fitzgerald boosted their target price on shares of I-Mab from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. HC Wainwright reissued a “buy” rating and issued a $95.00 target price (up previously from $75.00) on shares of I-Mab in a research report on Wednesday, September 1st. Finally, Zacks Investment Research raised shares of I-Mab from a “sell” rating to a “hold” rating in a research report on Wednesday, August 11th.

I-Mab stock traded down $0.98 during midday trading on Friday, hitting $67.74. 12,798 shares of the stock were exchanged, compared to its average volume of 515,712. I-Mab has a 1 year low of $32.64 and a 1 year high of $85.40. The firm has a market cap of $5.21 billion, a P/E ratio of 64.83 and a beta of 0.71. The company has a 50 day moving average price of $72.06 and a two-hundred day moving average price of $66.33.

Several large investors have recently made changes to their positions in IMAB. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of I-Mab during the 1st quarter valued at about $56,000. The Manufacturers Life Insurance Company grew its position in shares of I-Mab by 17.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 742,569 shares of the company’s stock valued at $35,992,000 after buying an additional 109,181 shares during the last quarter. BlackRock Inc. grew its position in shares of I-Mab by 8.8% during the 1st quarter. BlackRock Inc. now owns 159,884 shares of the company’s stock valued at $7,750,000 after buying an additional 12,929 shares during the last quarter. Ward Ferry Management BVI Ltd boosted its stake in I-Mab by 137.9% during the 1st quarter. Ward Ferry Management BVI Ltd now owns 1,791,496 shares of the company’s stock valued at $86,834,000 after purchasing an additional 1,038,559 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in I-Mab during the 1st quarter valued at about $13,913,000. 37.17% of the stock is owned by institutional investors and hedge funds.

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics to treat cancer and autoimmune disorders. It is developing Felzartamab, a CD38 antibody that is in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; Eftansomatropin alfa, a long-acting human growth hormone, which has completed Phase 3 clinical trials to treat pediatric growth hormone deficiency; Lemzoparlimab, a CD47 monoclonal antibody that has completed Phase 1a clinical trials with RBC-sparing differentiation; and Olamkicept, an IL-6 blocker that has completed Phase 2 clinical trials for the treatment of ulcerative colitis and autoimmune.

Read More: Net Asset Value

Analyst Recommendations for I-Mab (NASDAQ:IMAB)

Receive News & Ratings for I-Mab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for I-Mab and related companies with MarketBeat.com's FREE daily email newsletter.