Equities Analysts Set Expectations for Immunomedics Inc.’s Q2 2017 Earnings (IMMU)
Immunomedics Inc. (NASDAQ:IMMU) – Jefferies Group issued their Q2 2017 earnings per share (EPS) estimates for Immunomedics in a note issued to investors on Thursday. Jefferies Group analyst M. Andrews forecasts that the firm will post earnings per share of ($0.09) for the quarter. Jefferies Group has a “Buy” rating and a $5.50 price objective on the stock. Jefferies Group also issued estimates for Immunomedics’ Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at ($0.07) EPS, FY2017 earnings at ($0.35) EPS, FY2018 earnings at ($0.17) EPS, FY2019 earnings at $0.08 EPS and FY2020 earnings at $0.23 EPS.
IMMU has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Immunomedics from a “hold” rating to a “strong sell” rating in a report on Monday, August 22nd. Wells Fargo & Co. downgraded shares of Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st.
Shares of Immunomedics (NASDAQ:IMMU) opened at 2.58 on Monday. The company’s market cap is $247.33 million. Immunomedics has a 1-year low of $1.61 and a 1-year high of $5.44. The stock’s 50 day moving average is $2.98 and its 200 day moving average is $3.03.
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Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.06.
In other news, Director Mary E. Paetzold sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $2.98, for a total value of $44,700.00. Following the completion of the sale, the director now owns 82,474 shares of the company’s stock, valued at approximately $245,772.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Don C. Stark sold 9,900 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $2.97, for a total transaction of $29,403.00. Following the completion of the sale, the director now directly owns 55,848 shares of the company’s stock, valued at approximately $165,868.56. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Immunomedics by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,677,769 shares of the biopharmaceutical company’s stock valued at $8,533,000 after buying an additional 69,890 shares during the period. Sabby Management LLC purchased a new stake in Immunomedics during the first quarter valued at $182,240,000. State Street Corp boosted its stake in Immunomedics by 63.3% in the second quarter. State Street Corp now owns 2,354,732 shares of the biopharmaceutical company’s stock valued at $5,463,000 after buying an additional 912,372 shares during the period. Opaleye Management Inc. boosted its stake in Immunomedics by 356.9% in the first quarter. Opaleye Management Inc. now owns 1,325,000 shares of the biopharmaceutical company’s stock valued at $3,313,000 after buying an additional 1,035,000 shares during the period. Finally, venBio Select Advisor LLC purchased a new stake in Immunomedics during the first quarter valued at $2,626,000. 53.79% of the stock is owned by institutional investors and hedge funds.
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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