Could Immune Pharmaceuticals Inc. (IMNP) See a Reversal After Breaking Its Yearly Low?

April 17, 2018 - By Hazel Jackson

Immune Pharmaceuticals Inc. (NASDAQ:IMNP) Logo

The stock of Immune Pharmaceuticals Inc. (NASDAQ:IMNP) hit a new 52-week low and has $0.31 target or 6.00 % below today’s $0.33 share price. The 8 months bearish chart indicates high risk for the $10.68M company. The 1-year low was reported on Apr, 17 by If the $0.31 price target is reached, the company will be worth $640,860 less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.67% or $0.0092 during the last trading session, reaching $0.3348. About 137,003 shares traded. Immune Pharmaceuticals Inc. (NASDAQ:IMNP) has declined 87.86% since April 17, 2017 and is downtrending. It has underperformed by 99.41% the S&P500.

Immune Pharmaceuticals Inc., a clinical stage biopharmaceutical company, develops therapeutic agents in the fields of immuno-inflammation, dermatology, and immuno-oncology. The company has market cap of $10.68 million. The companyÂ’s lead product candidate is bertilimumab, a clinical-stage human antibody, which is in Phase II clinical trial that targets eotaxin-1 for the treatment of bullous pemphigoid, crohnÂ’s, and ulcerative colitis diseases. It currently has negative earnings. It also develops NanoCyclo, a topical nanocapsule formulation of cyclosporine-A, which is in preclinical stage for the treatment of atopic dermatitis and psoriasis.

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