Story
Mizuho Names Immix Biopharma Top SMidcap Pick, Hikes Price Target to $26
Mizuho Securities has named Immix Biopharma (NASDAQ: IMMX) its top small and mid-cap biotech pick for September, significantly raising its price target on the stock in anticipation of a key clinical data update for the company's lead drug candidate, NXC-201.
Upgraded Outlook on Sales Potential
In a note to clients, Mizuho analyst Graig Suvannavejh raised the firm's price target on Immix Biopharma to $26 from a previous $15, while maintaining an Outperform rating. The revision stems from an updated model that incorporates a second potential indication for NXC-201.
The analyst now projects the drug could achieve peak global revenue of approximately $1 billion in its current setting for relapsed/refractory AL amyloidosis. Mizuho sees an additional opportunity of over $2 billion if the drug is approved for first-line treatment, bringing the total peak sales potential to over $3 billion.
Key Clinical Catalyst Ahead
The positive outlook is centered on an upcoming Phase 2 data update from the NEXICART-2 study, expected later in September. The study is evaluating NXC-201 in patients with relapsed/refractory AL amyloidosis, a rare disease characterized by abnormal protein buildup.
AdPrevious interim results from May 2026 showed a 95% complete response rate in an initial group of 20 patients. For the upcoming readout, which will include data from over 40 patients, the analyst is looking for a complete response rate of at least 70% to 75% to validate the drug's strong potential.
Market Context and Performance
Immix Biopharma shares have significantly outperformed the broader biotech sector this year, gaining 133% year-to-date, according to the source. This compares to a 29% rise in the SPDR S&P Biotech ETF (XBI) over the same period.
Suvannavejh believes the stock remains undervalued, given its current market capitalization of under $1 billion relative to the drug's multi-billion dollar sales potential. The positive sentiment is shared by other analysts, with BofA Securities recently initiating coverage with a Buy rating and H.C. Wainwright raising its price target to $25.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.