Phoenix Tree (NASDAQ:IMAB) Stock Rating Upgraded by ValuEngine

Phoenix Tree (NASDAQ:IMAB) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

Several other brokerages have also recently commented on IMAB. China Renaissance Securities started coverage on shares of Phoenix Tree in a research report on Wednesday, February 12th. They set a “buy” rating and a $17.93 target price for the company. Jefferies Financial Group initiated coverage on shares of Phoenix Tree in a research report on Tuesday, February 11th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, CICC Research initiated coverage on shares of Phoenix Tree in a research report on Thursday, February 13th. They issued an “outperform” rating and a $18.09 price objective for the company.

Shares of Phoenix Tree stock traded down $0.71 on Thursday, hitting $13.79. 33,600 shares of the company’s stock traded hands, compared to its average volume of 117,270. The firm has a 50-day moving average price of $12.67. The company has a market cap of $827.37 million and a PE ratio of -0.48. Phoenix Tree has a one year low of $9.30 and a one year high of $15.80.

About Phoenix Tree

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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