Immunomedics (IMMU) Receives $21.00 Consensus PT from Analysts

Shares of Immunomedics (NASDAQ:IMMU) have received a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, TheStreet raised shares of Immunomedics from a “d” rating to a “c-” rating in a research note on Friday, February 9th.

In other news, Director David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the sale, the director now directly owns 1,774,285 shares in the company, valued at $31,049,987.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Goldenberg sold 17,729 shares of Immunomedics stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $17.09, for a total transaction of $302,988.61. Following the completion of the sale, the director now owns 1,774,285 shares in the company, valued at $30,322,530.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,729 shares of company stock worth $1,342,589. Insiders own 14.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Immunomedics by 8.8% in the fourth quarter. BlackRock Inc. now owns 9,064,259 shares of the biopharmaceutical company’s stock valued at $146,478,000 after purchasing an additional 736,608 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Immunomedics by 48.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 5,225,124 shares of the biopharmaceutical company’s stock valued at $84,438,000 after purchasing an additional 1,705,624 shares during the last quarter. Palo Alto Investors LP raised its holdings in shares of Immunomedics by 0.5% in the first quarter. Palo Alto Investors LP now owns 4,796,008 shares of the biopharmaceutical company’s stock valued at $70,070,000 after purchasing an additional 21,747 shares during the last quarter. Palo Alto Investors LLC raised its holdings in shares of Immunomedics by 58.6% in the fourth quarter. Palo Alto Investors LLC now owns 4,774,261 shares of the biopharmaceutical company’s stock valued at $77,152,000 after purchasing an additional 1,763,795 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Immunomedics by 68.7% in the first quarter. Victory Capital Management Inc. now owns 1,872,840 shares of the biopharmaceutical company’s stock valued at $27,362,000 after purchasing an additional 762,648 shares during the last quarter. Institutional investors own 74.12% of the company’s stock.

Immunomedics stock traded up $0.36 during midday trading on Monday, hitting $22.93. 33,923 shares of the stock were exchanged, compared to its average volume of 2,386,053. Immunomedics has a 52 week low of $7.17 and a 52 week high of $22.60. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -28.35 and a beta of 1.60. The company has a debt-to-equity ratio of 2.81, a current ratio of 3.94 and a quick ratio of 3.94.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.06). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $4.27 million. The business’s revenue for the quarter was down 61.5% on a year-over-year basis. analysts predict that Immunomedics will post -1.09 EPS for the current fiscal year.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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