Piper Jaffray Companies Analysts Give Immunomedics (NASDAQ:IMMU) a $20.00 Price Target
Immunomedics (NASDAQ:IMMU) received a $20.00 price target from analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 20.92% from the company’s previous close.
Several other equities analysts also recently weighed in on the company. ValuEngine upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Cowen set a $30.00 price target on Immunomedics and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub downgraded Immunomedics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald started coverage on Immunomedics in a research report on Monday, August 19th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $28.33.
Shares of Immunomedics stock traded up $0.95 on Tuesday, hitting $16.54. 4,431,161 shares of the company’s stock were exchanged, compared to its average volume of 2,730,737. The company has a 50-day simple moving average of $14.19 and a 200-day simple moving average of $15.22. The stock has a market capitalization of $2.55 billion, a PE ratio of -16.06 and a beta of 2.06. Immunomedics has a 1 year low of $11.55 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93.
In other Immunomedics news, Director Avoro Capital Advisors Llc bought 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of $13.25 per share, for a total transaction of $5,300,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan Ball bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $13.35 per share, for a total transaction of $66,750.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. Insiders purchased a total of 1,405,000 shares of company stock valued at $18,916,750 in the last ninety days. 9.40% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of IMMU. Metropolitan Life Insurance Co NY raised its position in shares of Immunomedics by 3.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock valued at $924,000 after buying an additional 1,757 shares during the last quarter. BB&T Securities LLC increased its holdings in Immunomedics by 78.4% in the 2nd quarter. BB&T Securities LLC now owns 22,750 shares of the biopharmaceutical company’s stock valued at $315,000 after acquiring an additional 10,000 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in Immunomedics by 21.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 1,241,351 shares of the biopharmaceutical company’s stock valued at $23,846,000 after acquiring an additional 223,350 shares during the last quarter. C WorldWide Group Holding A S purchased a new stake in Immunomedics in the 2nd quarter worth $6,103,000. Finally, JPMorgan Chase & Co. lifted its stake in Immunomedics by 4.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 490,343 shares of the biopharmaceutical company’s stock worth $6,790,000 after purchasing an additional 21,135 shares in the last quarter. Institutional investors and hedge funds own 88.59% 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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