Immunomedics, Inc. (NASDAQ:IMMU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $10.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.74% from the stock’s current price.

According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “

IMMU has been the topic of a number of other research reports. Wells Fargo & Company upgraded Immunomedics from a “market perform” rating to an “outperform” rating in a report on Friday, May 5th. Jefferies Group LLC reiterated a “buy” rating and set a $11.00 target price on shares of Immunomedics in a report on Friday. Cowen and Company initiated coverage on Immunomedics in a report on Friday, May 26th. They set an “outperform” rating on the stock. Finally, ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Immunomedics currently has a consensus rating of “Buy” and a consensus price target of $10.50.

Shares of Immunomedics (NASDAQ:IMMU) traded down 0.22% during mid-day trading on Monday, hitting $9.03. The stock had a trading volume of 1,318,169 shares. Immunomedics has a 1-year low of $2.02 and a 1-year high of $9.51. The company’s market capitalization is $989.72 million. The stock’s 50-day moving average price is $7.84 and its 200 day moving average price is $5.80.

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Several institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in Immunomedics by 49.6% in the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 55,392 shares during the last quarter. TD Asset Management Inc. purchased a new position in Immunomedics during the first quarter valued at $855,000. UBS Asset Management Americas Inc. boosted its position in Immunomedics by 361.2% in the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 52,709 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Immunomedics by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 464,215 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 23,518 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its position in Immunomedics by 54.1% in the first quarter. Chicago Equity Partners LLC now owns 363,755 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 127,700 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Immunomedics Company Profile

Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

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