Immunomedics (IMMU) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Immunomedics (NASDAQ:IMMU) from a hold rating to a sell rating in a report published on Saturday.

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. “

A number of other brokerages have also weighed in on IMMU. Jefferies Group raised their price target on shares of Immunomedics from $22.00 to $27.00 and gave the company a buy rating in a report on Wednesday, January 24th. BidaskClub raised shares of Immunomedics from a buy rating to a strong-buy rating in a report on Thursday, January 25th. ValuEngine raised shares of Immunomedics from a sell rating to a hold rating in a report on Friday, February 2nd. Finally, TheStreet raised shares of Immunomedics from a d rating to a c- rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Immunomedics currently has an average rating of Buy and a consensus target price of $19.00.

Shares of Immunomedics (IMMU) opened at $16.47 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The firm has a market cap of $2,730.46, a P/E ratio of -8.15 and a beta of 1.50. Immunomedics has a fifty-two week low of $4.73 and a fifty-two week high of $18.93.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMMU. Schwab Charles Investment Management Inc. grew its holdings in Immunomedics by 16.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 187,348 shares of the biopharmaceutical company’s stock worth $1,655,000 after acquiring an additional 26,400 shares during the period. Alliancebernstein L.P. grew its holdings in Immunomedics by 2.4% during the 2nd quarter. Alliancebernstein L.P. now owns 178,198 shares of the biopharmaceutical company’s stock worth $1,573,000 after acquiring an additional 4,200 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Immunomedics by 5.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 280,047 shares of the biopharmaceutical company’s stock worth $2,473,000 after acquiring an additional 14,261 shares during the period. Northern Trust Corp grew its holdings in Immunomedics by 2.5% during the 2nd quarter. Northern Trust Corp now owns 1,276,821 shares of the biopharmaceutical company’s stock worth $11,275,000 after acquiring an additional 30,926 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Immunomedics by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock worth $39,930,000 after acquiring an additional 105,558 shares during the period. 72.69% of the stock is owned by hedge funds and other institutional investors.

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About Immunomedics

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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