Mizuho raises Immix Biopharma stock price target to $26 on expansion

Mizuho has raised its price target for Immix Biopharma (IMMX) stock to $26 from $15, maintaining an Outperform rating. The firm now anticipates a potential second indication for NXC-201 in the first-line AL amyloidosis setting, which could generate a peak revenue of over $2 billion. A Phase 3 study for this indication is planned for the first half of 2027, building on the strong Phase 2 data seen previously.

Immix Biopharma's stock currently trades at $12.21 with a market cap of $873.5 million, though the company may be overvalued relative to its Fair Value according to InvestingPro analysis. The updated price target implies an upside of more than 100%. The firm has named Immix Biopharma its top September pick, reflecting high conviction in the upcoming data update from the Phase 2 NEXICART-2 study for NXC-201 in relapsed/refractory AL amyloidosis.

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