Immunomedics, Inc. (IMMU) Receives $15.33 Average Price Target from Brokerages
Immunomedics, Inc. (NASDAQ:IMMU) has received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.33.
IMMU has been the topic of a number of recent research reports. Jefferies Group LLC raised their price objective on shares of Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, October 4th. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Immunomedics in a research note on Monday, July 24th.
In other Immunomedics news, insider David M. Goldenberg sold 20,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $12.64, for a total value of $252,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $10.72, for a total transaction of $428,800.00. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $1,051,200 over the last ninety days. Insiders own 6.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of Immunomedics by 8.1% during the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 966 shares in the last quarter. Stephens Inc. AR bought a new position in shares of Immunomedics during the second quarter valued at about $115,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Immunomedics by 11.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 1,473 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Immunomedics by 99.3% during the second quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 10,323 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Immunomedics by 7.4% during the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 1,747 shares in the last quarter. 59.20% of the stock is currently owned by institutional investors.
Immunomedics (IMMU) traded down $0.62 during trading hours on Thursday, reaching $10.58. 1,732,652 shares of the company’s stock were exchanged, compared to its average volume of 2,440,000. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of -1.65. Immunomedics has a 1-year low of $2.25 and a 1-year high of $14.48.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The business had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.75 million. The company’s revenue for the quarter was down 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) EPS. research analysts anticipate that Immunomedics will post -0.41 EPS for the current 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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