IMARA (NASDAQ:IMRA) Stock Rating Upgraded by Zacks Investment Research

IMARA (NASDAQ:IMRAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Imara Inc. is a biopharmaceutical company. It engages in developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of haemoglobin. The company’s product pipeline consists of IMR-687, which are in clinical stage. Imara Inc. is based in Boston, Massachusetts. “

Other equities research analysts have also recently issued research reports about the company. SVB Leerink reiterated a “market perform” rating on shares of IMARA in a report on Wednesday, April 6th. Citigroup cut IMARA from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.63.

Shares of NASDAQ IMRA traded up $0.06 during midday trading on Friday, hitting $1.21. 96,063 shares of the stock traded hands, compared to its average volume of 304,080. The business has a 50 day moving average price of $1.35 and a two-hundred day moving average price of $1.82. IMARA has a one year low of $0.97 and a one year high of $9.29. The company has a market cap of $31.79 million, a PE ratio of -0.51 and a beta of 2.60.

IMARA (NASDAQ:IMRAGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. Research analysts predict that IMARA will post -2.09 earnings per share for the current fiscal year.

In other IMARA news, major shareholder Braden Michael Leonard acquired 552,000 shares of the firm’s stock in a transaction dated Thursday, April 21st. The stock was purchased at an average price of $1.40 per share, for a total transaction of $772,800.00. Following the acquisition, the insider now owns 2,852,000 shares in the company, valued at approximately $3,992,800. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Enterprise Associates 14 New sold 439,088 shares of the stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $1.07, for a total value of $469,824.16. Following the sale, the insider now owns 2,611,050 shares of the company’s stock, valued at approximately $2,793,823.50. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Two Sigma Advisers LP purchased a new stake in IMARA in the 3rd quarter valued at $1,063,000. Two Sigma Investments LP purchased a new position in shares of IMARA in the 3rd quarter valued at about $1,018,000. Lion Point Capital LP purchased a new position in shares of IMARA in the 3rd quarter valued at about $3,399,000. Tudor Investment Corp Et Al purchased a new position in shares of IMARA in the 3rd quarter valued at about $212,000. Finally, Laurion Capital Management LP purchased a new position in shares of IMARA in the 3rd quarter valued at about $1,224,000. 71.07% of the stock is owned by institutional investors.

IMARA Company Profile (Get Rating)

IMARA Inc, a clinical-stage biopharmaceutical company, develops and commercializes therapeutics for patients with rare genetic disorders of hemoglobin. Its lead product candidate is IMR-687, an oral and once-a-day therapeutic that is in Phase 2b clinical trials for the treatment of sickle cell disease and ß-thalassemia.

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