Immunomedics, Inc. (NASDAQ:IMMU) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $15.33.

A number of equities analysts have commented on IMMU shares. Jefferies Group LLC lifted their target price on Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Zacks Investment Research upgraded Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 4th. BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Cowen and Company restated an “outperform” rating and issued a $15.00 target price on shares of Immunomedics in a research note on Monday, July 24th.

In other news, Director Cynthia L. Goldenberg sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $9.24, for a total transaction of $369,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Goldenberg sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $12.64, for a total value of $252,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $1,051,200. 6.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geneva Advisors LLC boosted its position in shares of Immunomedics by 0.6% during the second quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 200 shares during the period. Amalgamated Bank boosted its position in shares of Immunomedics by 8.1% during the second quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 966 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Immunomedics by 11.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 1,473 shares during the period. Legal & General Group Plc boosted its position in shares of Immunomedics by 7.4% during the second quarter. Legal & General Group Plc now owns 25,477 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 1,747 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Immunomedics by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 79,520 shares of the biopharmaceutical company’s stock worth $702,000 after buying an additional 1,763 shares during the period. Institutional investors and hedge funds own 58.48% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Immunomedics, Inc. (IMMU) Given Average Rating of “Buy” by Brokerages” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/11/02/immunomedics-inc-immu-given-average-rating-of-buy-by-brokerages.html.

Immunomedics (NASDAQ:IMMU) last issued 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 business had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was down 31.2% compared to the same quarter last year.

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.

Receive News & Ratings for Immunomedics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immunomedics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.