Wall Street analysts forecast that Immunomedics, Inc. (NASDAQ:IMMU) will post earnings per share (EPS) of ($0.20) for the current quarter, according to Zacks Investment Research. 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 posted earnings of ($0.25) per share during the same quarter last year, which would indicate a positive year over year growth rate of 20%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 15th.
According to Zacks, analysts expect that Immunomedics will report full-year earnings of ($1.26) per share for the current fiscal year, with EPS estimates ranging from ($1.29) to ($1.24). For the next year, analysts expect that the business will post earnings of ($0.98) per share, with EPS estimates ranging from ($1.41) to ($0.57). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Immunomedics.
A number of research firms recently issued reports on IMMU. 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. Zacks Investment Research lowered Immunomedics from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. BidaskClub lowered Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. ValuEngine raised Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. Finally, Wells Fargo & Co upped their target price on Immunomedics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, three 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 $31.50.
In related news, Director Venbio Select Advisor Llc bought 575,000 shares of Immunomedics stock in a transaction that occurred on Friday, June 15th. The shares were purchased at an average price of $24.00 per share, with a total value of $13,800,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of IMMU. RA Capital Management LLC purchased a new position in shares of Immunomedics during the 2nd quarter worth $73,845,000. BlackRock Inc. lifted its stake in shares of Immunomedics by 24.3% during the 2nd quarter. BlackRock Inc. now owns 11,228,828 shares of the biopharmaceutical company’s stock worth $265,786,000 after purchasing an additional 2,195,066 shares during the period. American Century Companies Inc. purchased a new position in shares of Immunomedics during the 2nd quarter worth $36,571,000. Voya Investment Management LLC lifted its stake in shares of Immunomedics by 2,844.1% during the 2nd quarter. Voya Investment Management LLC now owns 1,333,820 shares of the biopharmaceutical company’s stock worth $31,571,000 after purchasing an additional 1,288,515 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Immunomedics by 66.4% during the 2nd quarter. Janus Henderson Group PLC now owns 3,217,759 shares of the biopharmaceutical company’s stock worth $76,164,000 after purchasing an additional 1,284,303 shares during the period. 75.01% of the stock is currently owned by institutional investors.
IMMU opened at $21.00 on Friday. Immunomedics has a 1-year low of $7.68 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94. The company has a market capitalization of $3.95 billion, a P/E ratio of -25.93 and a beta of 1.72.
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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