Immunomedics, Inc. (IMMU) Given New $14.00 Price Target at Jefferies Group LLC
Immunomedics, Inc. (NASDAQ:IMMU) had its target price hoisted by analysts at Jefferies Group LLC from $11.00 to $14.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group LLC’s target price points to a potential upside of 22.06% from the stock’s current price. Jefferies Group also issued estimates for Immunomedics’ Q1 2018 earnings at ($0.11) EPS, FY2019 earnings at ($0.77) EPS, FY2020 earnings at ($0.55) EPS, FY2021 earnings at $0.08 EPS and FY2022 earnings at $0.76 EPS.
A number of other research analysts also recently commented on the stock. Cowen and Company initiated coverage on shares of Immunomedics in a research report on Friday, May 26th. They issued an “outperform” rating on the stock. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, July 17th. Finally, ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.00.
Immunomedics (NASDAQ IMMU) traded up 0.17% during midday trading on Tuesday, hitting $11.47. 1,852,703 shares of the stock traded hands. Immunomedics has a one year low of $2.02 and a one year high of $12.96. The company has a 50-day moving average price of $10.09 and a 200 day moving average price of $7.94. The stock’s market cap is $1.28 billion.
Immunomedics (NASDAQ:IMMU) last posted its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The company had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.75 million. Immunomedics’s revenue was down 31.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) earnings per share. Equities research analysts anticipate that Immunomedics will post ($0.53) earnings per share for the current year.
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In other news, Director Cynthia L. Goldenberg sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $9.24, for a total value of $369,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Goldenberg sold 20,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $12.64, for a total transaction of $252,800.00. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $1,051,200 in the last 90 days. Company insiders own 6.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Geneva Advisors LLC lifted its stake in shares of Immunomedics by 0.6% in the 2nd quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock worth $279,000 after acquiring an additional 200 shares during the period. Amalgamated Bank lifted its stake in shares of Immunomedics by 8.1% in the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 966 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Immunomedics by 11.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,473 shares during the period. Legal & General Group Plc lifted its stake in shares of Immunomedics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock worth $222,000 after acquiring an additional 1,747 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Immunomedics by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 79,520 shares of the biopharmaceutical company’s stock worth $702,000 after acquiring an additional 1,763 shares during the period. Institutional investors own 77.99% of the company’s stock.
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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