Phoenix Tree (NASDAQ:IMAB) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Phoenix Tree (NASDAQ:IMAB) from a hold rating to a buy rating in a research report released on Thursday, ValuEngine reports.

IMAB has been the subject of a number of other research reports. China Renaissance Securities initiated coverage on shares of Phoenix Tree in a report on Wednesday, February 12th. They issued a buy rating and a $17.93 price objective for the company. CICC Research began coverage on shares of Phoenix Tree in a report on Thursday, February 13th. They set an outperform rating and a $18.09 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Phoenix Tree in a report on Tuesday, February 11th. They set a buy rating and a $16.00 price target for the company.

Phoenix Tree stock traded down $0.71 during mid-day trading on Thursday, reaching $13.79. The company’s stock had a trading volume of 33,600 shares, compared to its average volume of 117,270. The company has a market capitalization of $827.37 million and a price-to-earnings ratio of -0.48. The firm’s 50 day moving average is $12.67. Phoenix Tree has a twelve month low of $9.30 and a twelve month high of $15.80.

Phoenix Tree 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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