Brokerages Set Immunomedics, Inc. (NASDAQ:IMMU) Target Price at $29.00

Immunomedics, Inc. (NASDAQ:IMMU) has been assigned an average rating of “Buy” from the fourteen brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $29.00.

Several brokerages recently weighed in on IMMU. Zacks Investment Research upgraded Immunomedics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. ValuEngine upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. BidaskClub upgraded Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. HC Wainwright restated a “buy” rating and issued a $26.00 price target (down previously from $28.00) on shares of Immunomedics in a research note on Thursday, August 8th. Finally, Cowen set a $30.00 price target on Immunomedics and gave the company a “buy” rating in a research note on Wednesday, August 7th.

Shares of NASDAQ IMMU traded down $0.01 during trading on Wednesday, reaching $14.93. 77,128 shares of the company traded hands, compared to its average volume of 1,702,596. The firm’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $15.34. The stock has a market cap of $2.87 billion, a P/E ratio of -14.49 and a beta of 1.98. Immunomedics has a 12-month low of $11.55 and a 12-month high of $26.99. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 0.06.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the firm posted ($0.68) earnings per share. As a group, research analysts expect that Immunomedics will post -1.59 EPS for the current year.

In other news, insider Avoro Capital Advisors Llc acquired 1,535,539 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $12.21 per share, for a total transaction of $18,748,931.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bryan Ball acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the completion of the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,726,078 shares of company stock worth $47,241,402. 9.40% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of IMMU. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Immunomedics by 13.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,084 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 706 shares during the last quarter. Coastal Investment Advisors Inc. boosted its holdings in shares of Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 800 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Immunomedics by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 43,041 shares of the biopharmaceutical company’s stock worth $597,000 after purchasing an additional 1,127 shares during the last quarter. JGP Global Gestao de Recursos Ltda. boosted its holdings in shares of Immunomedics by 10.5% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 13,097 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Immunomedics by 215.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors own 86.84% of the company’s stock.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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