Zacks Investment Research upgraded shares of Immunomedics (NASDAQ:IMMU) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. The brokerage currently has $21.00 price target on the biopharmaceutical company’s stock.

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 analysts also recently issued reports on the company. Piper Jaffray Companies reiterated a buy rating on shares of Immunomedics in a research note on Thursday, December 20th. Jefferies Financial Group set a $30.00 price target on Immunomedics and gave the stock a buy rating in a research note on Sunday, December 23rd. B. Riley started coverage on Immunomedics in a research note on Tuesday, January 8th. They set a buy rating and a $55.00 price target for the company. BidaskClub upgraded Immunomedics from a hold rating to a buy rating in a research note on Tuesday, January 15th. Finally, Wells Fargo & Co downgraded Immunomedics from an outperform rating to a market perform rating and decreased their price target for the stock from $44.00 to $18.00 in a research note on Friday, January 18th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $28.45.

Shares of IMMU stock opened at $18.27 on Friday. The company has a current ratio of 13.45, a quick ratio of 13.45 and a debt-to-equity ratio of 0.06. Immunomedics has a fifty-two week low of $11.55 and a fifty-two week high of $27.33. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -17.74 and a beta of 2.11.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Monday, February 25th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.16). Equities research analysts expect that Immunomedics will post -1.38 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Immunomedics by 3.6% during the 4th quarter. BlackRock Inc. now owns 12,639,350 shares of the biopharmaceutical company’s stock valued at $180,363,000 after purchasing an additional 435,568 shares during the period. FMR LLC boosted its stake in Immunomedics by 48.2% during the 4th quarter. FMR LLC now owns 8,235,480 shares of the biopharmaceutical company’s stock valued at $117,519,000 after purchasing an additional 2,677,246 shares during the period. American Century Companies Inc. boosted its stake in Immunomedics by 45.2% during the 4th quarter. American Century Companies Inc. now owns 3,116,769 shares of the biopharmaceutical company’s stock valued at $44,476,000 after purchasing an additional 970,128 shares during the period. Foresite Capital Management III LLC boosted its stake in Immunomedics by 0.3% during the 4th quarter. Foresite Capital Management III LLC now owns 2,700,000 shares of the biopharmaceutical company’s stock valued at $38,529,000 after purchasing an additional 8,271 shares during the period. Finally, Jennison Associates LLC boosted its stake in Immunomedics by 14.3% during the 4th quarter. Jennison Associates LLC now owns 2,471,401 shares of the biopharmaceutical company’s stock valued at $35,267,000 after purchasing an additional 309,886 shares during the period. Hedge funds and other institutional investors own 85.22% of the company’s stock.

Immunomedics Company Profile

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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