Immunomedics (NASDAQ:IMMU) had its price objective reduced by Piper Jaffray Companies to $20.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Immunomedics’ FY2022 earnings at $1.38 EPS and FY2023 earnings at $2.79 EPS.
Several other research analysts also recently issued reports on the stock. Jefferies Financial Group set a $21.00 price target on shares of Immunomedics and gave the stock a buy rating in a report on Friday, January 18th. Cowen reiterated a buy rating and set a $30.00 price target on shares of Immunomedics in a report on Friday, January 18th. Wells Fargo & Co downgraded Immunomedics from an outperform rating to a market perform rating and decreased their price target for the stock from $44.00 to $18.00 in a report on Friday, January 18th. BidaskClub raised shares of Immunomedics from a hold rating to a buy rating in a research report on Tuesday, January 15th. Finally, Zacks Investment Research raised shares of Immunomedics from a sell rating to a hold rating in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Immunomedics presently has a consensus rating of Buy and an average price target of $28.75.
NASDAQ:IMMU opened at $13.26 on Tuesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -12.87 and a beta of 2.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.45 and a current ratio of 13.45. Immunomedics has a 52-week low of $11.55 and a 52-week high of $27.33.
Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 85.57%. During the same period in the prior year, the firm earned ($0.97) earnings per share. On average, analysts anticipate that Immunomedics will post -1.28 earnings per share for the current year.
A number of large investors have recently bought and sold shares of IMMU. Candriam Luxembourg S.C.A. increased its stake in Immunomedics by 139.2% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,765,500 shares of the biopharmaceutical company’s stock valued at $36,775,000 after buying an additional 1,027,500 shares during the last quarter. BlackRock Inc. increased its stake in shares of Immunomedics by 8.7% during the 3rd quarter. BlackRock Inc. now owns 12,203,782 shares of the biopharmaceutical company’s stock worth $254,206,000 after purchasing an additional 974,954 shares during the last quarter. FMR LLC increased its stake in shares of Immunomedics by 9.0% during the 2nd quarter. FMR LLC now owns 8,494,182 shares of the biopharmaceutical company’s stock worth $201,057,000 after purchasing an additional 699,658 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Immunomedics by 38.9% during the 3rd quarter. American Century Companies Inc. now owns 2,146,641 shares of the biopharmaceutical company’s stock worth $44,715,000 after purchasing an additional 601,597 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Immunomedics by 190.7% during the 3rd quarter. Deutsche Bank AG now owns 765,125 shares of the biopharmaceutical company’s stock worth $15,936,000 after purchasing an additional 501,879 shares during the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.
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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