Imprimis Pharmaceuticals, Inc. (IMMY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Imprimis Pharmaceuticals, Inc. (NASDAQ:IMMY) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Imprimis Pharmaceuticals, Inc. is a pharmaceutical company focused on its proprietary ophthalmology and urology drug formulations. Imprimis recently launched its urology business, which includes a patented formulation to address patients suffering from interstitial cystitis. “

Several other analysts have also issued reports on IMMY. ValuEngine upgraded shares of Imprimis Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, June 2nd. Rodman & Renshaw restated a buy rating and issued a $5.00 price objective on shares of Imprimis Pharmaceuticals in a report on Wednesday, March 22nd.

Imprimis Pharmaceuticals (NASDAQ:IMMY) opened at 3.05 on Wednesday. The stock has a 50 day moving average of $3.42 and a 200-day moving average of $3.05. The company’s market capitalization is $61.20 million. Imprimis Pharmaceuticals has a 12-month low of $1.65 and a 12-month high of $4.69.

Imprimis Pharmaceuticals (NASDAQ:IMMY) last issued its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.07. The company had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $6.50 million. Imprimis Pharmaceuticals had a negative net margin of 90.48% and a negative return on equity of 388.64%. Equities analysts expect that Imprimis Pharmaceuticals will post ($0.86) earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of the stock. Wealthsource Partners LLC bought a new stake in shares of Imprimis Pharmaceuticals during the first quarter valued at about $125,000. KCG Holdings Inc. acquired a new stake in shares of Imprimis Pharmaceuticals during the first quarter worth about $130,000. Apollo Management Holdings L.P. acquired a new stake in shares of Imprimis Pharmaceuticals during the first quarter worth about $417,000. Berson & Corrado Investment Advisors LLC raised its stake in shares of Imprimis Pharmaceuticals by 31.4% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 119,922 shares of the specialty pharmaceutical company’s stock worth $500,000 after buying an additional 28,645 shares during the period. Finally, Granite Investment Partners LLC raised its stake in shares of Imprimis Pharmaceuticals by 109.0% in the first quarter. Granite Investment Partners LLC now owns 297,297 shares of the specialty pharmaceutical company’s stock worth $1,239,000 after buying an additional 155,071 shares during the period. Hedge funds and other institutional investors own 17.11% of the company’s stock.

About Imprimis Pharmaceuticals

Imprimis Pharmaceuticals, Inc (Imprimis) is engaged in the development, production and dispensing of compounded pharmaceuticals. The Company operates through the business of developing drug therapies and providing such therapies through sterile and non-sterile pharmaceutical compounding services segment.

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