Shares of Immunomedics, Inc. (NASDAQ:IMMU) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $15.33.
A number of equities analysts have commented on the company. BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Cowen and Company reissued an “outperform” rating and set a $15.00 target price on shares of Immunomedics in a report on Monday, July 24th. Zacks Investment Research raised Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, July 11th. Finally, Jefferies Group LLC set a $11.00 target price on Immunomedics and gave the company a “buy” rating in a report on Thursday, August 17th.
Shares of Immunomedics (NASDAQ:IMMU) traded up $0.24 during trading on Thursday, hitting $11.20. The company’s stock had a trading volume of 1,649,055 shares, compared to its average volume of 2,227,964. Immunomedics has a fifty-two week low of $2.07 and a fifty-two week high of $14.48. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of -1.65.
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 business had revenue of $0.64 million during the quarter, compared to analyst estimates of $0.75 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Immunomedics’s revenue was down 31.2% on a year-over-year basis. equities research analysts anticipate that Immunomedics will post -0.41 EPS for the current fiscal year.
In related news, Director Cynthia L. Goldenberg sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $9.24, for a total value of $369,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Goldenberg sold 20,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $12.64, for a total value of $252,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,000 shares of company stock valued at $1,051,200. Insiders own 6.60% of the company’s stock.
Several large investors have recently bought and sold shares of IMMU. FMR LLC increased its holdings 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 valued at $48,537,000 after purchasing an additional 3,972,388 shares during the last quarter. Palo Alto Investors LLC acquired a new stake in shares of Immunomedics in the second quarter valued at approximately $26,582,000. NEA Management Company LLC acquired a new stake in shares of Immunomedics in the third quarter valued at approximately $38,762,000. State Street Corp increased its holdings in shares of Immunomedics by 118.2% in the first quarter. State Street Corp now owns 3,513,549 shares of the biopharmaceutical company’s stock valued at $22,730,000 after purchasing an additional 1,903,355 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Immunomedics in the second quarter valued at approximately $10,570,000. 58.48% of the stock is owned by hedge funds and other institutional investors.
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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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