Impel Pharmaceuticals (NASDAQ:IMPL) Rating Lowered to Neutral at Wedbush

Wedbush cut shares of Impel Pharmaceuticals (NASDAQ:IMPLGet Rating) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $5.00 target price on the stock, down from their prior target price of $24.00. Wedbush also issued estimates for Impel Pharmaceuticals’ Q4 2022 earnings at ($0.99) EPS, FY2022 earnings at ($4.56) EPS, Q1 2023 earnings at ($1.04) EPS, Q2 2023 earnings at ($0.70) EPS, Q3 2023 earnings at ($0.63) EPS, Q4 2023 earnings at ($0.54) EPS, FY2023 earnings at ($2.81) EPS, FY2024 earnings at ($1.62) EPS, FY2025 earnings at ($0.85) EPS and FY2026 earnings at $0.47 EPS.

Separately, Jonestrading began coverage on Impel Pharmaceuticals in a research report on Wednesday, August 24th. They issued a buy rating and a $26.00 price target on the stock.

Impel Pharmaceuticals Trading Down 2.9 %

Shares of NASDAQ:IMPL opened at $2.68 on Tuesday. The company has a market cap of $63.62 million, a P/E ratio of -0.58 and a beta of 0.04. The stock’s 50-day moving average is $4.83 and its 200-day moving average is $6.82. Impel Pharmaceuticals has a 52-week low of $2.60 and a 52-week high of $11.01. The company has a debt-to-equity ratio of 12.07, a quick ratio of 5.88 and a current ratio of 4.97.

Institutional Investors Weigh In On Impel Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Impel Pharmaceuticals by 8.1% during the first quarter. Vanguard Group Inc. now owns 531,784 shares of the company’s stock worth $3,387,000 after buying an additional 40,032 shares in the last quarter. DCF Advisers LLC grew its position in Impel Pharmaceuticals by 43.4% during the first quarter. DCF Advisers LLC now owns 367,058 shares of the company’s stock worth $2,338,000 after buying an additional 111,031 shares in the last quarter. Millennium Management LLC acquired a new stake in Impel Pharmaceuticals during the second quarter worth about $1,344,000. State Street Corp grew its position in Impel Pharmaceuticals by 6.6% during the first quarter. State Street Corp now owns 180,045 shares of the company’s stock worth $1,147,000 after buying an additional 11,107 shares in the last quarter. Finally, BlackRock Inc. grew its position in Impel Pharmaceuticals by 10.0% during the third quarter. BlackRock Inc. now owns 107,254 shares of the company’s stock worth $523,000 after buying an additional 9,783 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

About Impel Pharmaceuticals

(Get Rating)

Impel Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for patients suffering from central nervous system disease in the United States. Its lead product candidate is Trudhesa, an upper nasal formulation of dihydroergotamine for the acute treatment of migraine.

Further Reading

Receive News & Ratings for Impel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.