Immunomedics’ (IMMU) Outperform Rating Reaffirmed at Cowen and Company

Immunomedics, Inc. (NASDAQ:IMMU)‘s stock had its “outperform” rating reissued by equities research analysts at Cowen and Company in a research note issued on Monday, July 24th. They currently have a $15.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s target price would indicate a potential upside of 78.15% from the stock’s previous close.

A number of other research firms have also issued reports on IMMU. Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Immunomedics in a research report on Friday, July 14th. Zacks Investment Research raised Immunomedics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, July 17th. ValuEngine raised Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company raised Immunomedics from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.00.

Immunomedics (IMMU) traded up 5.51% during mid-day trading on Monday, hitting $8.42. 3,069,139 shares of the stock traded hands. Immunomedics has a 1-year low of $2.02 and a 1-year high of $9.51. The stock’s market cap is $925.28 million. The company’s 50 day moving average price is $8.50 and its 200-day moving average price is $6.91.

Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.13. The company had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. Immunomedics’s revenue for the quarter was down 31.2% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. Analysts predict 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 added to or reduced their stakes in IMMU. Geneva Advisors LLC raised its position in Immunomedics by 0.6% in the second quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 200 shares during the period. Amalgamated Bank raised its position in Immunomedics by 8.1% in the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 966 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Immunomedics by 11.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 1,473 shares during the period. Legal & General Group Plc raised its position in Immunomedics by 7.4% in the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock valued at $222,000 after buying an additional 1,747 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Immunomedics by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 79,520 shares of the biopharmaceutical company’s stock valued at $702,000 after buying an additional 1,763 shares during the period. 63.39% of the stock is currently owned by institutional investors.

Immunomedics Company Profile

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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