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 Wednesday. The firm currently has a $15.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.86% 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. “

Several other equities research analysts have also issued reports on the stock. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Immunomedics in a research report on Friday, July 14th. Finally, Cowen and Company reissued an “outperform” rating and issued a $15.00 price objective on shares of Immunomedics in a research report on Monday, July 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.67.

Immunomedics (IMMU) traded up 0.97% during trading on Wednesday, hitting $13.53. 1,815,308 shares of the company’s stock traded hands. The stock’s market cap is $1.51 billion. Immunomedics has a 12-month low of $2.02 and a 12-month high of $14.48. The firm’s 50-day moving average price is $11.55 and its 200 day moving average price is $8.47.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.75 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was down 31.2% on a year-over-year basis. Analysts anticipate that Immunomedics will post ($0.53) earnings per share for the current fiscal year.

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In related news, insider David M. Goldenberg sold 20,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $10.72, for a total transaction of $428,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $1,051,200. Company insiders own 6.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMMU. FMR LLC grew its holdings in Immunomedics by 260.6% during the 2nd quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock valued at $48,537,000 after purchasing an additional 3,972,388 shares in the last quarter. Redmile Group LLC acquired a new stake in Immunomedics during the 1st quarter valued at $21,874,000. Palo Alto Investors LLC acquired a new stake in Immunomedics during the 2nd quarter valued at $26,582,000. State Street Corp grew its holdings in Immunomedics by 118.2% during the 1st quarter. State Street Corp now owns 3,513,549 shares of the biopharmaceutical company’s stock valued at $22,730,000 after purchasing an additional 1,903,355 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Immunomedics during the 2nd quarter valued at $10,570,000. 57.36% of the stock is owned by institutional investors and hedge funds.

About Immunomedics

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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