BUY, SELL, HOLD (2)

Pharmaceutical Stock Flies Higher on Drug Announcement

the only analyst in coverage carries a "buy" rating

Deputy Editor
Jun 19, 2020 at 11:28 AM
facebook X logo linkedin


The shares of Australian biopharmaceutical company Immuron Limited (NASDAQ:IMRN) are up 40.8% at $10.91 at last check, after announcing plans to create a diarrhea drug for evaluation by the U.S. Defense Department. The drug will be produced by CSIRO using vaccines developed by the U.S. Naval Medical Research Center, and the Naval Medical research center plans to submit a pre-investigational new drug (IND) information package to the U.S. Food and Drug Administration (FDA). 

IMRN has fallen far below its recent all-time high of $28.99 on June 9. Now a chip-shot away from its support at the 10-day moving average, the equity is climbing on the charts once again, up a whopping 504% in the last three months alone. It's also worth noting that trading was halted today due to the stock's massive swing in volatility. 

The lone analyst in coverage carries a "buy" rating. Meanwhile, the 12-month consensus price target of $6 is a 44.7% discount to current levels. 

 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.