Immunomedics, Inc. (IMMU) Given Consensus Recommendation of “Buy” by Analysts
Shares of Immunomedics, Inc. (NASDAQ:IMMU) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.00.
A number of research firms have recently weighed in on IMMU. Jefferies Group LLC set a $9.00 target price on shares of Immunomedics and gave the stock a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded shares of Immunomedics from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company assumed coverage on shares of Immunomedics in a research report on Friday, May 26th. They set an “outperform” rating on the stock.
In related news, insider David M. Goldenberg sold 20,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $9.24, for a total transaction of $369,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $1,051,200 over the last three months. 6.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its stake in Immunomedics by 260.6% during the 2nd quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock valued at $48,537,000 after acquiring an additional 3,972,388 shares during the period. State Street Corp lifted its stake in Immunomedics by 37.2% during the 2nd quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock valued at $42,549,000 after acquiring an additional 1,305,298 shares during the period. Vanguard Group Inc. lifted its stake in Immunomedics by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock valued at $39,930,000 after acquiring an additional 105,558 shares during the period. Farallon Capital Management LLC lifted its stake in Immunomedics by 1.7% during the 2nd quarter. Farallon Capital Management LLC now owns 4,227,500 shares of the biopharmaceutical company’s stock valued at $37,329,000 after acquiring an additional 72,500 shares during the period. Finally, Redmile Group LLC bought a new position in Immunomedics during the 1st quarter valued at about $21,874,000. Institutional investors and hedge funds own 77.99% of the company’s stock.
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Immunomedics (NASDAQ IMMU) traded up 3.5868% on Wednesday, hitting $12.0575. 1,381,660 shares of the company’s stock were exchanged. Immunomedics has a 52-week low of $2.02 and a 52-week high of $12.96. The stock’s market cap is $1.34 billion. The firm has a 50 day moving average price of $9.66 and a 200-day moving average price of $7.70.
Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.75 million. Immunomedics’s revenue for the quarter was down 31.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Analysts predict that Immunomedics will post ($0.55) earnings per share for the current fiscal year.
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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