Immunomedics (NASDAQ:IMMU) Raised to “Hold” at BidaskClub

Immunomedics (NASDAQ:IMMU) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday, BidAskClub reports.

IMMU has been the subject of a number of other reports. B. Riley set a $28.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a research note on Monday, September 30th. Cantor Fitzgerald started coverage on shares of Immunomedics in a research note on Monday, August 19th. They set an “overweight” rating and a $28.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of Immunomedics in a research note on Monday, September 30th. Cowen set a $30.00 price objective on shares of Immunomedics and gave the stock a “buy” rating in a research note on Sunday, September 29th. Finally, Piper Jaffray Companies set a $20.00 target price on shares of Immunomedics and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Immunomedics presently has a consensus rating of “Buy” and a consensus price target of $26.90.

Shares of IMMU opened at $14.17 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93. The firm has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $14.95. Immunomedics has a 1-year low of $11.55 and a 1-year high of $24.99. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -13.76 and a beta of 2.10.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). During the same period last year, the firm earned ($0.68) EPS. On average, equities analysts expect that Immunomedics will post -1.66 earnings per share for the current fiscal year.

In other news, Director Avoro Capital Advisors Llc bought 1,000,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $13.23 per share, with a total value of $13,230,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Ball bought 5,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was purchased at an average cost of $14.18 per share, with a total value of $70,900.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at approximately $141,800. The disclosure for this purchase can be found here. 9.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Immunomedics by 4.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 490,343 shares of the biopharmaceutical company’s stock valued at $6,790,000 after buying an additional 21,135 shares during the period. BB&T Securities LLC grew its stake in shares of Immunomedics by 78.4% during the 2nd quarter. BB&T Securities LLC now owns 22,750 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 10,000 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Immunomedics by 3.8% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock valued at $924,000 after buying an additional 1,757 shares during the period. C WorldWide Group Holding A S purchased a new stake in shares of Immunomedics during the 2nd quarter valued at $6,103,000. Finally, Fosun International Ltd grew its stake in shares of Immunomedics by 6.4% during the 2nd quarter. Fosun International Ltd now owns 250,433 shares of the biopharmaceutical company’s stock valued at $3,468,000 after buying an additional 15,000 shares during the period. 88.58% of the stock is owned by institutional investors.

About Immunomedics

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

Further Reading: What does an outperform rating mean?

Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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