Immunomedics (IMMU) Upgraded to Buy at BidaskClub

Immunomedics (NASDAQ:IMMU) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities analysts also recently commented on IMMU. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet upgraded shares of Immunomedics from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Finally, Jefferies Group upped their price target on shares of Immunomedics from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Shares of Immunomedics opened at $20.90 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $3.14 billion, a PE ratio of -25.80 and a beta of 1.60. Immunomedics has a fifty-two week low of $18.26 and a fifty-two week high of $18.91. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.06). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $4.27 million. The business’s quarterly revenue was down 61.5% compared to the same quarter last year. equities research analysts anticipate that Immunomedics will post -1.09 EPS for the current fiscal year.

In other Immunomedics news, Director David M. Goldenberg sold 17,729 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $17.09, for a total transaction of $302,988.61. Following the sale, the director now directly owns 1,774,285 shares in the company, valued at $30,322,530.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Goldenberg sold 20,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $17.50, for a total transaction of $350,000.00. Following the sale, the director now owns 1,774,285 shares in the company, valued at $31,049,987.50. The disclosure for this sale can be found here. Insiders sold 77,729 shares of company stock worth $1,342,589 over the last 90 days. 14.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Calton & Associates Inc. acquired a new stake in Immunomedics during the fourth quarter worth about $135,000. Xact Kapitalforvaltning AB acquired a new stake in Immunomedics during the fourth quarter worth about $193,000. Quantitative Systematic Strategies LLC acquired a new stake in Immunomedics during the first quarter worth about $180,000. Sapphire Star Partners LP acquired a new stake in Immunomedics during the fourth quarter worth about $323,000. Finally, Cubist Systematic Strategies LLC grew its stake in Immunomedics by 831.8% during the first quarter. Cubist Systematic Strategies LLC now owns 20,657 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 18,440 shares in the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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