Immunomedics (NASDAQ:IMMU) received a $22.00 price target from investment analysts at Jefferies Financial Group in a research note issued on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 33.01% from the stock’s current price.
IMMU has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target (down previously from $28.00) on shares of Immunomedics in a research note on Thursday, August 8th. Cantor Fitzgerald started coverage on Immunomedics in a report on Monday, August 19th. They set an “overweight” rating and a $28.00 price target for the company. Cowen set a $30.00 price objective on Immunomedics and gave the stock a “buy” rating in a research report on Wednesday, August 7th. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, BidaskClub cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.33.
Shares of IMMU stock traded up $0.95 during trading on Tuesday, hitting $16.54. 4,431,161 shares of the stock traded hands, compared to its average volume of 2,730,737. Immunomedics has a 52-week low of $11.55 and a 52-week high of $24.99. The firm has a market capitalization of $2.55 billion, a P/E ratio of -16.06 and a beta of 2.06. The firm’s fifty day moving average price is $14.19 and its 200-day moving average price is $15.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93.
Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.09). During the same period in the prior year, the firm posted ($0.68) earnings per share. As a group, equities research analysts expect that Immunomedics will post -1.61 earnings per share for the current year.
In other news, insider Bryan Ball acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at $66,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $13.55 per share, for a total transaction of $13,550,000.00. The disclosure for this purchase can be found here. Insiders have acquired 1,405,000 shares of company stock worth $18,916,750 over the last 90 days. 9.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY grew its position in Immunomedics by 3.8% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock valued at $924,000 after acquiring an additional 1,757 shares in the last quarter. BB&T Securities LLC increased its stake in Immunomedics by 78.4% during the second quarter. BB&T Securities LLC now owns 22,750 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 10,000 shares during the period. Pictet Asset Management Ltd. increased its stake in Immunomedics by 21.9% during the first quarter. Pictet Asset Management Ltd. now owns 1,241,351 shares of the biopharmaceutical company’s stock worth $23,846,000 after purchasing an additional 223,350 shares during the period. C WorldWide Group Holding A S purchased a new stake in Immunomedics during the second quarter worth about $6,103,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Immunomedics by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 490,343 shares of the biopharmaceutical company’s stock worth $6,790,000 after purchasing an additional 21,135 shares in the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: What is a Reverse Stock Split?
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.