Jefferies Group LLC set a $11.00 price target on Immunomedics, Inc. (NASDAQ:IMMU) in a research report sent to investors on Thursday. The firm currently has a buy rating on the biopharmaceutical company’s stock. Jefferies Group also issued estimates for Immunomedics’ FY2022 earnings at $0.65 EPS.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Immunomedics from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Immunomedics from a hold rating to a buy rating and set a $10.00 target price for the company in a research report on Monday, July 17th. ValuEngine raised Immunomedics from a sell rating to a hold rating in a report on Friday, June 2nd. Cowen and Company reissued an outperform rating and issued a $15.00 price target on shares of Immunomedics in a report on Monday, July 24th. Finally, Wells Fargo & Company raised Immunomedics from a market perform rating to an outperform rating in a report on Friday, May 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Immunomedics has a consensus rating of Buy and an average price target of $12.00.
Shares of Immunomedics (IMMU) traded up 4.14% during trading on Thursday, reaching $8.31. The company had a trading volume of 1,405,268 shares. The firm has a 50-day moving average of $8.51 and a 200 day moving average of $6.88. Immunomedics has a 52 week low of $2.02 and a 52 week high of $9.51. The firm’s market capitalization is $913.19 million.
Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.13. The firm had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. During the same period last year, the firm earned ($0.17) earnings per share. Immunomedics’s revenue for the quarter was down 31.2% on a year-over-year basis. On average, equities research analysts forecast that Immunomedics will post ($0.56) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Immunomedics by 260.6% in the second quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock worth $48,537,000 after buying an additional 3,972,388 shares in the last quarter. State Street Corp increased its position in shares of Immunomedics by 37.2% in the second quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock worth $42,549,000 after buying an additional 1,305,298 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Immunomedics by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock worth $39,930,000 after buying an additional 105,558 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of Immunomedics by 1.7% in the second quarter. Farallon Capital Management LLC now owns 4,227,500 shares of the biopharmaceutical company’s stock worth $37,329,000 after buying an additional 72,500 shares in the last quarter. Finally, Redmile Group LLC acquired a new position in shares of Immunomedics during the first quarter worth approximately $21,874,000. 63.39% of the stock is owned by hedge funds and other institutional investors.
Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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