Research Analysts’ Recent Ratings Updates for Immunomedics (IMMU)

A number of research firms have changed their ratings and price targets for Immunomedics (NASDAQ: IMMU):

  • 10/3/2019 – Immunomedics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/30/2019 – Immunomedics had its price target raised by analysts at Wells Fargo & Co from $14.00 to $16.00. They now have a “market perform” rating on the stock.
  • 9/30/2019 – Immunomedics was given a new $28.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 9/30/2019 – Immunomedics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $26.00 price target on the stock.
  • 9/29/2019 – Immunomedics was given a new $30.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 9/12/2019 – Immunomedics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/10/2019 – Immunomedics was given a new $30.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 9/10/2019 – Immunomedics was given a new $20.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 9/10/2019 – Immunomedics was given a new $22.00 price target on by analysts at Jefferies Financial Group Inc. They now have a “buy” rating on the stock.
  • 8/28/2019 – Immunomedics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/19/2019 – Immunomedics is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $28.00 price target on the stock.
  • 8/8/2019 – Immunomedics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $26.00 price target on the stock, down previously from $28.00. They wrote, “We remind investors that sacituzumab previously achieved a 31% 6.8-month median progression-free survival (mPFS) which, in our view, compares favorably to chemotherapy’s effect in this patient population (10-13% ORR and 3-4 month mPFS). Accordingly, we reiterate our Buy rating, while reducing our 12-month price target from $28 to $26 to account for the removal of the second- line HR+, HER2- mBC setting from our assumptions. IMMU-132 filing resubmission remains on track for early 4Q19.””

NASDAQ IMMU traded up $0.22 during trading hours on Monday, hitting $14.59. The company had a trading volume of 46,818 shares, compared to its average volume of 3,166,538. Immunomedics, Inc. has a fifty-two week low of $11.55 and a fifty-two week high of $24.99. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $15.09. The firm has a market cap of $2.76 billion, a P/E ratio of -14.17 and a beta of 2.10.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.09). During the same period in the previous year, the business earned ($0.68) earnings per share. Equities analysts forecast that Immunomedics, Inc. will post -1.66 EPS for the current fiscal year.

In other Immunomedics news, Director Avoro Capital Advisors Llc purchased 1,000,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $13.23 per share, with a total value of $13,230,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Ball purchased 5,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average cost of $14.18 per share, for a total transaction of $70,900.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $141,800. The disclosure for this purchase can be found here. 9.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. acquired a new position in shares of Immunomedics during the third quarter valued at $66,000. Atria Investments LLC acquired a new position in Immunomedics during the second quarter worth about $1,275,000. United Services Automobile Association grew its holdings in Immunomedics by 135.6% during the second quarter. United Services Automobile Association now owns 317,992 shares of the biopharmaceutical company’s stock worth $4,411,000 after acquiring an additional 183,041 shares during the period. ClariVest Asset Management LLC acquired a new position in Immunomedics during the second quarter worth about $2,810,000. Finally, Boxer Capital LLC grew its holdings in Immunomedics by 60.2% during the second quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock worth $91,084,000 after acquiring an additional 2,467,000 shares during the period. 88.58% of the stock is currently owned by institutional investors.

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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