Zacks Investment Research Downgrades Prima BioMed Ltd. (PBMD) to Sell

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Prima BioMed Ltd. (NASDAQ:PBMD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Prima Biomed Ltd is a biotechnology company focused on developing oncology therapies in the field of immunotherapy. The Company’s key product candidates in development include CVac, an autologous dendritic cell vaccine for ovarian cancer, monoclonal antibodies for multiple tumor types, and an oral formulation for the Human Papilloma Virus. Prima Biomed Ltd is based in Sydney, Australia. “
Several other brokerages have also issued reports on PBMD. FBR & Co set a $6.00 target price on shares of Prima BioMed and gave the company a “buy” rating in a research report on Thursday, September 8th. Maxim Group reiterated a “buy” rating on shares of Prima BioMed in a research report on Wednesday, June 22nd. HC Wainwright reiterated a “buy” rating on shares of Prima BioMed in a research report on Wednesday, June 22nd. Finally, Roth Capital reiterated a “buy” rating and set a $6.00 target price on shares of Prima BioMed in a research report on Friday, August 26th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Prima BioMed currently has a consensus rating of “Buy” and a consensus price target of $4.20.

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Shares of Prima BioMed (NASDAQ:PBMD) traded down 1.0661% during trading on Tuesday, reaching $0.9002. 23,623 shares of the company’s stock traded hands. The company’s market cap is $61.86 million. Prima BioMed has a 52-week low of $0.72 and a 52-week high of $1.54. The company’s 50-day moving average is $0.88 and its 200 day moving average is $0.95.
About Prima BioMed
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.

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