Zacks Investment Research upgraded shares of Immunomedics Inc. (NASDAQ:IMMU) from a strong sell rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “

Several other equities analysts have also commented on IMMU. Jefferies Group assumed coverage on shares of Immunomedics in a research note on Thursday. They issued a buy rating and a $5.50 price target on the stock. Wells Fargo & Co. lowered shares of Immunomedics from an outperform rating to a market perform rating in a research note on Tuesday, June 21st.

Immunomedics (NASDAQ:IMMU) traded up 0.581% during trading on Friday, hitting $2.595. 555,566 shares of the company traded hands. The firm’s market cap is $248.77 million. The company’s 50-day moving average is $2.98 and its 200 day moving average is $3.03. Immunomedics has a 52-week low of $1.61 and a 52-week high of $5.44.

Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.06. On average, equities analysts anticipate that Immunomedics will post ($0.47) earnings per share for the current year.

In other news, Director Don C. Stark sold 9,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $2.97, for a total transaction of $29,403.00. Following the transaction, the director now directly owns 55,848 shares in the company, valued at $165,868.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary E. Paetzold sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $2.98, for a total transaction of $44,700.00. Following the transaction, the director now owns 82,474 shares in the company, valued at $245,772.52. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in IMMU. BlackRock Group LTD raised its position in shares of Immunomedics by 108.6% in the second quarter. BlackRock Group LTD now owns 46,962 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 24,444 shares during the period. BlackRock Investment Management LLC raised its position in shares of Immunomedics by 1.2% in the second quarter. BlackRock Investment Management LLC now owns 349,301 shares of the biopharmaceutical company’s stock worth $810,000 after buying an additional 4,216 shares during the period. Vanguard Group Inc. raised its position in shares of Immunomedics by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,677,769 shares of the biopharmaceutical company’s stock worth $8,533,000 after buying an additional 69,890 shares during the period. Swiss National Bank raised its position in shares of Immunomedics by 2.8% in the second quarter. Swiss National Bank now owns 145,450 shares of the biopharmaceutical company’s stock worth $337,000 after buying an additional 3,900 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Immunomedics by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 431,506 shares of the biopharmaceutical company’s stock worth $1,001,000 after buying an additional 10,105 shares during the period. Institutional investors and hedge funds own 53.79% of the company’s stock.

Immunomedics Company Profile

Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

5 Day Chart for NASDAQ:IMMU

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