ValuEngine upgraded shares of Immunomedics (NASDAQ:IMMU) from a buy rating to a strong-buy rating in a report issued on Monday.
Several other equities analysts have also issued reports on IMMU. BidaskClub lowered Immunomedics from a buy rating to a hold rating in a report on Saturday, March 17th. Zacks Investment Research lowered Immunomedics from a hold rating to a sell rating in a report on Friday, May 4th. Wells Fargo & Co raised their price objective on Immunomedics from $25.00 to $31.00 and gave the stock an outperform rating in a report on Monday, June 4th. Finally, B. Riley initiated coverage on Immunomedics in a report on Thursday, June 7th. They set a buy rating and a $53.00 price objective on the stock. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $28.20.
Immunomedics opened at $24.30 on Monday, Marketbeat Ratings reports. Immunomedics has a 1-year low of $7.17 and a 1-year high of $26.48. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.81.
Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.06). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $4.27 million. The business’s revenue for the quarter was down 61.5% on a year-over-year basis. sell-side analysts predict that Immunomedics will post -1.14 earnings per share for the current year.
In other news, Director Venbio Select Advisor Llc acquired 575,000 shares of the company’s stock in a transaction on Friday, June 15th. The shares were bought at an average price of $24.00 per share, with a total value of $13,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc grew its holdings in shares of Immunomedics by 3.5% during the first quarter. NEXT Financial Group Inc now owns 125,550 shares of the biopharmaceutical company’s stock worth $1,834,000 after buying an additional 4,200 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Immunomedics by 54.5% during the first quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 6,500 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Immunomedics by 0.6% during the first quarter. Northern Trust Corp now owns 1,256,143 shares of the biopharmaceutical company’s stock worth $18,353,000 after buying an additional 7,396 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Immunomedics during the first quarter worth about $180,000. Finally, Atlantic Trust Group LLC grew its holdings in shares of Immunomedics by 17.7% during the first quarter. Atlantic Trust Group LLC now owns 89,292 shares of the biopharmaceutical company’s stock worth $1,305,000 after buying an additional 13,427 shares during the last quarter. 74.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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