Immunomedics (IMMU) Hits New 52-Week High at $16.26

Immunomedics, Inc. (NASDAQ:IMMU)’s share price hit a new 52-week high on Thursday . The company traded as high as $16.26 and last traded at $15.75, with a volume of 3373500 shares. The stock had previously closed at $14.90.

A number of equities analysts have weighed in on IMMU shares. Jefferies Group boosted their target price on shares of Immunomedics from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine downgraded shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Finally, BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Immunomedics has a consensus rating of “Buy” and an average target price of $15.33.

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of -0.29. The firm has a market capitalization of $2,430.00, a PE ratio of -7.29 and a beta of 1.51.

In related news, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $10.39 per share, with a total value of $11,948,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Behzad Aghazadeh acquired 1,325,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $10.47 per share, for a total transaction of $13,872,750.00. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IMMU. Iguana Healthcare Management LLC boosted its holdings in Immunomedics by 5.3% during the 3rd quarter. Iguana Healthcare Management LLC now owns 500,000 shares of the biopharmaceutical company’s stock worth $6,990,000 after acquiring an additional 25,000 shares during the last quarter. California Public Employees Retirement System raised its holdings in Immunomedics by 33.0% in the third quarter. California Public Employees Retirement System now owns 154,647 shares of the biopharmaceutical company’s stock worth $2,162,000 after purchasing an additional 38,347 shares in the last quarter. Lyon Street Capital LLC bought a new position in Immunomedics in the third quarter worth $2,097,000. Nicholas Investment Partners LP bought a new position in Immunomedics in the third quarter worth $4,673,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Immunomedics by 150.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 468,380 shares of the biopharmaceutical company’s stock valued at $6,548,000 after buying an additional 281,032 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

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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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