Equities research analysts expect that Immunomedics, Inc. (NASDAQ:IMMU) will post earnings of ($0.20) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Immunomedics’ earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.31). Immunomedics reported earnings per share of ($0.25) in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 15th.
According to Zacks, analysts expect that Immunomedics will report full-year earnings of ($1.14) per share for the current fiscal year, with EPS estimates ranging from ($1.25) to ($0.93). For the next year, analysts anticipate that the business will post earnings of ($0.96) per share, with EPS estimates ranging from ($1.41) to ($0.57). Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Immunomedics.
Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $4.27 million. Immunomedics’s quarterly revenue was down 61.5% on a year-over-year basis.
A number of research firms have issued reports on IMMU. Zacks Investment Research downgraded Immunomedics from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. BidaskClub upgraded Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. B. Riley began coverage on Immunomedics in a research note on Thursday, June 7th. They issued a “buy” rating and a $53.00 target price on the stock. Wells Fargo & Co boosted their target price on Immunomedics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, June 4th. Finally, ValuEngine upgraded Immunomedics from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.20.
In other Immunomedics news, Director Venbio Select Advisor Llc bought 575,000 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were purchased at an average price of $24.00 per share, for a total transaction of $13,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.80% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in 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 lifted its stake in 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 lifted its stake in 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 lifted its stake in 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. lifted its stake in 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 and hedge funds own 74.32% of the company’s stock.
Immunomedics traded up $0.57, reaching $23.67, during mid-day trading on Monday, Marketbeat Ratings reports. 1,933,035 shares of the company traded hands, compared to its average volume of 3,979,804. The company has a market capitalization of $3.87 billion, a P/E ratio of -29.22 and a beta of 1.51. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94. Immunomedics has a fifty-two week low of $7.17 and a fifty-two week high of $26.48.
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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