MLV & Co Reiterates Buy, $4.50 PT on ImmunoCellular Therapeutics on Move to NYSE

MLV & Co reiterates its Buy rating with a $4.50 price target on ImmunoCellular Therapeutics IMUC as the company gets its listing on the NYSE starting next week. MLV & Co comments, "We view this move as an affirmation of the company's commitment to growing their pipeline, and providing opportunities for their investors. The move also signals to us that the company is confident in its business model moving forward. ImmunoCellular operates on a cost-efficiency basis of collaboration and outsourcing of product development and clinical trial management." IMUC closed at $2.82 on Thursday.