Zacks: Brokerages Set $33.00 Target Price for I-Mab (NASDAQ:IMAB)

I-Mab (NASDAQ:IMAB) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $33.00 for the company and are anticipating that the company will post ($0.51) EPS for the current quarter, according to Zacks. Zacks has also given I-Mab an industry rank of 47 out of 254 based on the ratings given to related companies.

Several equities analysts recently issued reports on the company. ValuEngine raised I-Mab from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Zacks Investment Research raised I-Mab from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Saturday, June 20th.

IMAB opened at $30.95 on Tuesday. The company has a 50 day simple moving average of $23.38. The firm has a market cap of $1.71 billion and a PE ratio of -1.07. I-Mab has a 12 month low of $9.30 and a 12 month high of $32.89.

I-Mab (NASDAQ:IMAB) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($17.05) EPS for the quarter. The firm had revenue of $0.11 million during the quarter. Research analysts predict that I-Mab will post -2.25 earnings per share for the current fiscal year.

I-Mab Company Profile

I-Mab, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel or highly differentiated biologics to treat diseases with unmet medical needs, primarily cancers and autoimmune disorders worldwide. It is developing TJ202, a CD38 antibody in Phase III clinical trials to treat multiple myeloma and autoimmune diseases; TJ101, a long-acting human growth hormone that is in Phase II clinical trials to treat pediatric growth hormone deficiency; and TJ301, a IL-6 blocker in Phase II clinical trials for the treatment of ulcerative colitis and other autoimmune diseases.

Read More: Outstanding Shares and The Effect on Share Price

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