Zacks Investment Research downgraded shares of Immunomedics (NASDAQ:IMMU) from a buy rating to a hold rating in a research note issued to investors on Wednesday, November 15th.
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. “
IMMU has been the topic of a number of other research reports. BidaskClub raised Immunomedics from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Cowen reissued an outperform rating and issued a $15.00 price target on shares of Immunomedics in a research note on Monday, July 24th. Finally, Jefferies Group set a $11.00 price target on Immunomedics and gave the stock a buy rating in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $15.33.
Immunomedics (NASDAQ IMMU) traded down $1.48 during trading on Wednesday, reaching $9.00. The company’s stock had a trading volume of 5,860,129 shares, compared to its average volume of 3,070,767. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of -0.29. Immunomedics has a 12 month low of $3.16 and a 12 month high of $14.48.
In other news, Director Venbio Select Advisor Llc bought 1,150,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $10.39 per share, for a total transaction of $11,948,500.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Behzad Aghazadeh bought 1,325,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average price of $10.47 per share, with a total value of $13,872,750.00. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of IMMU. Amalgamated Bank boosted its position in Immunomedics by 8.1% during the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 966 shares during the period. Stephens Inc. AR bought a new stake in Immunomedics during the 2nd quarter valued at $115,000. Raymond James Financial Services Advisors Inc. raised its stake in Immunomedics by 11.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 1,473 shares in the last quarter. SG Americas Securities LLC raised its stake in Immunomedics by 99.3% during the 2nd quarter. SG Americas Securities LLC now owns 20,719 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 10,323 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Immunomedics by 38.8% during the 1st quarter. Bank of America Corp DE now owns 33,707 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 9,426 shares in the last quarter. Institutional investors own 76.32% of the company’s stock.
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Immunomedics Company Profile
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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