ASX:IMM

Stock Analysis Report

Executive Summary

Immutep Limited, a biotechnology company, engages in the research, development, and commercialization of biological products.

Rewards

Earnings are forecast to grow 48.13% per year

Risk Analysis

Has less than 1 year of cash runway

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year

Does not have meaningful revenue (A$6M)

+ 1 more risk


Snowflake Analysis

High growth potential with adequate balance sheet.

Share Price & News

How has Immutep's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IMM's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-9.8%

IMM

-0.9%

AU Biotechs

-2.0%

AU Market


1 Year Return

-32.4%

IMM

54.4%

AU Biotechs

16.7%

AU Market

Return vs Industry: IMM underperformed the Australian Biotechs industry which returned 54.4% over the past year.

Return vs Market: IMM underperformed the Australian Market which returned 16.7% over the past year.


Shareholder returns

IMMIndustryMarket
7 Day-9.8%-0.9%-2.0%
30 Day-17.9%8.2%0.1%
90 Day4.5%16.0%0.4%
1 Year-31.9%-32.4%56.2%54.4%22.5%16.7%
3 Year-33.8%-34.3%199.7%189.0%35.4%16.8%
5 Year-33.8%-34.3%230.8%209.3%60.6%24.4%

Price Volatility Vs. Market

How volatile is Immutep's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Immutep undervalued compared to its fair value and its price relative to the market?

3.2x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate IMM's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate IMM's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: IMM is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: IMM is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IMM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: IMM is good value based on its PB Ratio (3.2x) compared to the AU Biotechs industry average (3.2x).


Next Steps

Future Growth

How is Immutep forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

48.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMM is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: IMM is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: IMM's is expected to become profitable in the next 3 years.

Revenue vs Market: IMM's revenue (22% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: IMM's revenue (22% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IMM's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Immutep performed over the past 5 years?

17.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IMM is currently unprofitable.

Growing Profit Margin: IMM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IMM is unprofitable, but has reduced losses over the past 5 years at a rate of 17.8% per year.

Accelerating Growth: Unable to compare IMM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IMM is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (10.4%).


Return on Equity

High ROE: IMM has a negative Return on Equity (-75.22%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Immutep's financial position?


Financial Position Analysis

Short Term Liabilities: IMM's short term assets (A$23.5M) exceed its short term liabilities (A$5.3M).

Long Term Liabilities: IMM's short term assets (A$23.5M) exceed its long term liabilities (A$10.9M).


Debt to Equity History and Analysis

Debt Level: IMM's debt to equity ratio (31.3%) is considered satisfactory.

Reducing Debt: IMM's debt to equity ratio has increased from 0.2% to 31.3% over the past 5 years.


Balance Sheet

Inventory Level: IMM has a low level of unsold assets or inventory.

Debt Coverage by Assets: IMM's debt is covered by short term assets (assets are 3.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IMM has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: IMM has less than a year of cash runway if free cash flow continues to reduce at historical rates of -9.5% each year


Next Steps

Dividend

What is Immutep's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.4%markettop25%5.6%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate IMM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate IMM's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IMM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IMM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IMM's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

What is the CEO of Immutep's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Marc Voigt (46yo)

5.4yrs

Tenure

AU$836,828

Compensation

Mr. Marc Voigt has been the Chief Executive Officer of Immutep Limited (formerly, Prima BioMed Ltd) since July 9, 2014. Mr. Voigt has been the Chief Financial Officer and Chief Operating Officer at caprote ...


CEO Compensation Analysis

Compensation vs Market: Marc's total compensation ($USD573.48K) is above average for companies of similar size in the Australian market ($USD255.57K).

Compensation vs Earnings: Marc's compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.8yrs

Average Tenure

46yo

Average Age

Experienced Management: IMM's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

2.5yrs

Average Tenure

48.5yo

Average Age

Experienced Board: IMM's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyAU$251,80413 Aug 19
Australian Ethical Investment Ltd
EntityCompany
Shares1,199,068.2
Max PriceAU$0.21
BuyAU$8,43407 Aug 19
Grant Chamberlain
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares40,163.5
Max PriceAU$0.21
BuyAU$32,25206 Aug 19
Marc Voigt
EntityIndividual
Role
Chief Executive Officer
CEO, CFO
Shares153,581.3
Max PriceAU$0.21
BuyAU$829,98119 Jul 19
Australian Ethical Investment Ltd
EntityCompany
Shares3,952,381
Max PriceAU$0.21

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22.9%.


Management Team

  • Frédéric Triebel (64yo)

    Chief Scientific Officer & Chief Medical Officer

    • Tenure: 5yrs
    • Compensation: AU$557.78k
  • Marc Voigt (46yo)

    CEO, CFO

    • Tenure: 5.4yrs
    • Compensation: AU$836.83k
  • Tom Bloomfield

    Company Secretary

    • Tenure: 3.8yrs
  • Deanne Miller (42yo)

    COO, General Counsel & Company Secretary

    • Tenure: 3.1yrs
    • Compensation: AU$484.74k
  • David Fang

    Finance Director & Assistant Company Secretary

    • Tenure: 1.9yrs

Board Members

  • Russell Howard (69yo)

    Non-Executive Chairman

    • Tenure: 2.1yrs
    • Compensation: AU$355.64k
  • Pete Meyers (49yo)

    Non-Executive Deputy Chairman

    • Tenure: 2.1yrs
    • Compensation: AU$60.93k
  • Martine Piccart

    Chairman of Clinical Advisory Board

    • Tenure: 2.5yrs
  • Marc Voigt (46yo)

    CEO, CFO

    • Tenure: 5.4yrs
    • Compensation: AU$836.83k
  • Grant Chamberlain (48yo)

    Non-Executive Director

    • Tenure: 2.3yrs
    • Compensation: AU$127.18k
  • David Cameron

    Member of Clinical Advisory Board

    • Tenure: 2.5yrs
  • Luc Dirix

    Member of Clinical Advisory Board

    • Tenure: 2.5yrs
  • Samson Fung

    Member of Clinical Advisory Board

    • Tenure: 2.5yrs
  • Salah-Eddin Al-Batran

    Member of Clinical Advisory Board

    • Tenure: 2.5yrs

Company Information

Immutep Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Immutep Limited
  • Ticker: IMM
  • Exchange: ASX
  • Founded:
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: AU$91.367m
  • Shares outstanding: 388.80m
  • Website: https://www.immutep.com

Number of Employees


Location

  • Immutep Limited
  • 95 Pitt Street
  • Level 12
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMMASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 1992
PRRU.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
YP1BDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
IMMPNasdaqGM (Nasdaq Global Market)SPON ADR EACH REP 100 ORD SHSUSUSDApr 2012
YP1ADB (Deutsche Boerse AG)SPON ADR EACH REP 100 ORD SHSDEEURApr 2012

Biography

Immutep Limited, a biotechnology company, engages in the research, development, and commercialization of biological products. The company develops immunotherapeutic products for the treatment of cancer and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/06 10:32
End of Day Share Price2019/12/05 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.