Immunomedics (IMMU) Coverage Initiated at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Immunomedics (NASDAQ:IMMU) in a research report issued on Monday, The Fly reports. The firm set an “overweight” rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on IMMU. Guggenheim started coverage on shares of Immunomedics in a research report on Tuesday, September 18th. They set a “buy” rating and a $33.00 price objective for the company. Goldman Sachs Group started coverage on shares of Immunomedics in a research report on Monday, September 17th. They set a “buy” rating and a $36.00 price objective for the company. BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 26th. B. Riley increased their price objective on shares of Immunomedics from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, Piper Jaffray Companies started coverage on shares of Immunomedics in a research report on Thursday, October 18th. They set a “buy” rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Immunomedics presently has a consensus rating of “Buy” and a consensus price target of $38.00.

Shares of NASDAQ:IMMU opened at $24.96 on Monday. Immunomedics has a 52 week low of $8.68 and a 52 week high of $27.33. The company has a quick ratio of 14.83, a current ratio of 14.83 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -24.23 and a beta of 1.93.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.46). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $4.27 million. During the same period in the previous year, the company posted ($0.48) EPS. The firm’s revenue for the quarter was down 33.3% on a year-over-year basis. On average, research analysts anticipate that Immunomedics will post -1.09 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Tocqueville Asset Management L.P. increased its position in shares of Immunomedics by 15.9% during the second quarter. Tocqueville Asset Management L.P. now owns 43,725 shares of the biopharmaceutical company’s stock worth $1,035,000 after acquiring an additional 6,000 shares in the last quarter. Amalgamated Bank grew its position in Immunomedics by 47.4% in the second quarter. Amalgamated Bank now owns 19,954 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 6,415 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Immunomedics by 54.5% in the first quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 6,500 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Immunomedics by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 554,914 shares of the biopharmaceutical company’s stock valued at $13,135,000 after purchasing an additional 7,694 shares in the last quarter. Finally, First Allied Advisory Services Inc. bought a new position in Immunomedics in the second quarter valued at $205,000. 78.28% of the stock is owned by institutional investors.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

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The Fly

Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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