Immunomedics, Inc. (IMMU) Given Average Recommendation of “Buy” by Brokerages

Shares of Immunomedics, Inc. (NASDAQ:IMMU) have received an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.50.

A number of equities research analysts recently issued reports on the stock. ValuEngine cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, October 4th. Jefferies Group raised their price objective on Immunomedics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Monday, October 9th. Finally, BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a report on Friday, December 22nd.

In other news, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $10.39 per share, for a total transaction of $11,948,500.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Behzad Aghazadeh acquired 1,325,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $10.47 per share, for a total transaction of $13,872,750.00. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Immunomedics by 260.6% during the 2nd quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock worth $48,537,000 after acquiring an additional 3,972,388 shares during the period. State Street Corp raised its holdings in shares of Immunomedics by 37.2% during the 2nd quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock worth $42,549,000 after acquiring an additional 1,305,298 shares during the period. Vanguard Group Inc. raised its holdings in shares of Immunomedics by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock worth $39,930,000 after acquiring an additional 105,558 shares during the period. Farallon Capital Management LLC raised its holdings in shares of Immunomedics by 1.7% during the 2nd quarter. Farallon Capital Management LLC now owns 4,227,500 shares of the biopharmaceutical company’s stock worth $37,329,000 after acquiring an additional 72,500 shares during the period. Finally, Palo Alto Investors LLC purchased a new position in shares of Immunomedics during the 2nd quarter worth $26,582,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

Immunomedics (NASDAQ:IMMU) traded down $0.66 during trading on Tuesday, reaching $15.85. 2,003,266 shares of the company were exchanged, compared to its average volume of 3,880,000. Immunomedics has a 1 year low of $3.83 and a 1 year high of $17.24. The firm has a market cap of $2,410.00, a PE ratio of -7.08 and a beta of 1.48. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of -0.29.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06). sell-side analysts predict that Immunomedics will post -1.16 EPS for the current fiscal year.

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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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