Zacks: Prima BioMed Ltd (PBMD) Given $7.00 Average Price Target by Analysts

Shares of Prima BioMed Ltd (NASDAQ:PBMD) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $7.00 for the company, according to Zacks. Zacks has also assigned Prima BioMed an industry rank of 109 out of 265 based on the ratings given to its competitors.

Separately, Maxim Group reissued a “buy” rating and issued a $7.00 price objective on shares of Prima BioMed in a report on Thursday, August 31st.

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Shares of Prima BioMed (NASDAQ:PBMD) traded down $0.08 during mid-day trading on Friday, hitting $1.57. The stock had a trading volume of 167,000 shares, compared to its average volume of 82,581. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.22. Prima BioMed has a fifty-two week low of $1.40 and a fifty-two week high of $3.26.

A hedge fund recently bought a new stake in Prima BioMed stock. Sabby Management LLC bought a new position in shares of Prima BioMed Ltd (NASDAQ:PBMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 962,835 shares of the biotechnology company’s stock, valued at approximately $1,993,000. Sabby Management LLC owned 4.08% of Prima BioMed as of its most recent SEC filing. Institutional investors and hedge funds own 4.38% of the company’s stock.

About Prima BioMed

Prima BioMed Ltd is a biotechnology company. The Company is engaged in research, development and commercialization of licensed medical biotechnology. It is also focused on development of immunotherapeutic products. The Company operates through Cancer Immunotherapy segment. Its core technologies are based on the Lymphocyte-activation gene 3 (LAG-3) immune control mechanism, which is involved in regulation of the T cell immune response.

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