FY2021 EPS Estimates for Immunomedics, Inc. (IMMU) Lifted by Piper Jaffray Companies
Immunomedics, Inc. (NASDAQ:IMMU) – Stock analysts at Piper Jaffray Companies boosted their FY2021 earnings per share (EPS) estimates for shares of Immunomedics in a note issued to investors on Wednesday, November 7th. Piper Jaffray Companies analyst J. Catanzaro now anticipates that the biopharmaceutical company will post earnings per share of $0.10 for the year, up from their prior estimate of $0.08. Piper Jaffray Companies has a “Buy” rating and a $33.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Immunomedics’ FY2022 earnings at $1.22 EPS and FY2023 earnings at $2.50 EPS.
IMMU has been the subject of a number of other research reports. BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Goldman Sachs Group initiated coverage on shares of Immunomedics in a research note on Monday, September 17th. They set a “buy” rating and a $36.00 target price for the company. B. Riley increased their price target on shares of Immunomedics from $53.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 24th. Guggenheim initiated coverage on shares of Immunomedics in a report on Tuesday, September 18th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Immunomedics in a report on Monday, November 5th. They set an “overweight” rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $38.43.
Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 108.80%. During the same quarter in the prior year, the company posted ($0.97) EPS.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Immunomedics by 8.7% during the third quarter. BlackRock Inc. now owns 12,203,782 shares of the biopharmaceutical company’s stock valued at $254,206,000 after buying an additional 974,954 shares during the last quarter. FMR LLC grew its holdings in shares of Immunomedics by 9.0% during the second quarter. FMR LLC now owns 8,494,182 shares of the biopharmaceutical company’s stock valued at $201,057,000 after buying an additional 699,658 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Immunomedics by 37.4% during the second quarter. Millennium Management LLC now owns 3,742,519 shares of the biopharmaceutical company’s stock valued at $88,585,000 after buying an additional 1,019,401 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Immunomedics by 13.1% during the third quarter. Janus Henderson Group PLC now owns 3,640,299 shares of the biopharmaceutical company’s stock valued at $75,827,000 after buying an additional 422,540 shares during the last quarter. Finally, RA Capital Management LLC purchased a new stake in shares of Immunomedics during the second quarter valued at approximately $73,845,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.
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.
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