Immunomedics, Inc. (NASDAQ:IMMU)’s share price shot up 5.6% during trading on Tuesday . The company traded as high as $21.42 and last traded at $21.35. 1,402,570 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 2,146,497 shares. The stock had previously closed at $20.21.
A number of research firms have commented on IMMU. Wells Fargo & Co lifted their price objective on shares of Immunomedics from $31.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday. BidaskClub raised shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Guggenheim began coverage on shares of Immunomedics in a report on Tuesday, September 18th. They issued a “buy” rating and a $33.00 price objective for the company. Goldman Sachs Group began coverage on shares of Immunomedics in a report on Monday, September 17th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, TheStreet downgraded shares of Immunomedics from a “c-” rating to a “d+” rating in a report on Tuesday, September 11th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $39.00.
The firm has a market cap of $3.89 billion, a PE ratio of -22.01 and a beta of 1.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 14.83 and a current ratio of 14.83.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analyst estimates of $4.27 million. During the same period last year, the firm posted ($0.48) EPS. The business’s revenue was down 33.3% compared to the same quarter last year. On average, research analysts anticipate that Immunomedics, Inc. will post -1.09 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. acquired a new position in shares of Immunomedics during the third quarter valued at $517,000. United Services Automobile Association boosted its holdings in shares of Immunomedics by 103.2% during the second quarter. United Services Automobile Association now owns 151,502 shares of the biopharmaceutical company’s stock valued at $3,586,000 after acquiring an additional 76,948 shares during the period. Northern Trust Corp boosted its holdings in shares of Immunomedics by 34.5% during the second quarter. Northern Trust Corp now owns 1,689,502 shares of the biopharmaceutical company’s stock valued at $39,992,000 after acquiring an additional 433,359 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Immunomedics by 17.4% during the second quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock valued at $16,705,000 after acquiring an additional 104,742 shares during the period. Finally, B. Riley Financial Inc. bought a new stake in shares of Immunomedics during the second quarter valued at about $353,000. 78.25% of the stock is owned by institutional investors.
About Immunomedics (NASDAQ:IMMU)
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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