Immunomedics (NASDAQ:IMMU) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
A number of other research analysts also recently commented on the company. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. B. Riley increased their price target on Immunomedics from $53.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 24th. ValuEngine raised Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. Finally, Wells Fargo & Co increased their price target on Immunomedics from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, June 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.00.
Shares of IMMU opened at $24.78 on Wednesday. The stock has a market capitalization of $4.80 billion, a P/E ratio of -24.06 and a beta of 1.79. Immunomedics has a one year low of $8.68 and a one year 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.
Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $4.27 million. Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. The company’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) EPS. research analysts anticipate that Immunomedics will post -1.09 EPS for the current year.
In other news, Director Venbio Select Advisor Llc bought 575,000 shares of Immunomedics 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 14.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Immunomedics by 17.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock worth $16,705,000 after buying an additional 104,742 shares during the last quarter. B. Riley Financial Inc. bought a new position in Immunomedics during the 2nd quarter worth approximately $353,000. California Public Employees Retirement System lifted its holdings in Immunomedics by 15.2% during the 2nd quarter. California Public Employees Retirement System now owns 178,275 shares of the biopharmaceutical company’s stock worth $4,220,000 after buying an additional 23,552 shares during the last quarter. Granahan Investment Management Inc. MA lifted its holdings in Immunomedics by 155.1% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 355,921 shares of the biopharmaceutical company’s stock worth $8,425,000 after buying an additional 216,421 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Immunomedics by 37.4% during the 2nd quarter. Millennium Management LLC now owns 3,742,519 shares of the biopharmaceutical company’s stock worth $88,585,000 after buying an additional 1,019,401 shares during the last quarter. 87.60% of the stock is currently owned by 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.
Receive News & Ratings for Immunomedics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics and related companies with MarketBeat.com's FREE daily email newsletter.