Immunomedics (NASDAQ:IMMU) had its price objective lifted by investment analysts at Jefferies Group from $22.00 to $27.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group’s price objective suggests a potential upside of 49.83% from the stock’s previous close. Jefferies Group also issued estimates for Immunomedics’ Q3 2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.76) EPS, FY2020 earnings at ($0.41) EPS, FY2021 earnings at $0.30 EPS and FY2022 earnings at $1.06 EPS.
A number of other research firms have also commented on IMMU. ValuEngine lowered Immunomedics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. BidaskClub raised Immunomedics from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Finally, Zacks Investment Research raised Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.00.
Shares of Immunomedics (NASDAQ:IMMU) traded up $0.28 during trading hours on Wednesday, reaching $18.02. The company’s stock had a trading volume of 1,740,000 shares, compared to its average volume of 3,020,000. The stock has a market capitalization of $2,740.00, a PE ratio of -8.04 and a beta of 1.48. Immunomedics has a 1-year low of $4.08 and a 1-year high of $18.93. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of -0.29.
In other news, Director Venbio Select Advisor Llc acquired 1,150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $10.39 per share, with a total value of $11,948,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian A. Markison sold 8,390 shares of Immunomedics stock in a transaction on Monday, November 20th. The stock was sold at an average price of $11.89, for a total value of $99,757.10. Following the completion of the sale, the director now directly owns 99,178 shares of the company’s stock, valued at approximately $1,179,226.42. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Palo Alto Investors LLC bought a new stake in shares of Immunomedics in the second quarter worth $26,582,000. Bank of New York Mellon Corp grew its holdings in Immunomedics by 8.5% during the third quarter. Bank of New York Mellon Corp now owns 681,419 shares of the biopharmaceutical company’s stock valued at $9,527,000 after purchasing an additional 53,284 shares during the period. State Street Corp grew its holdings in Immunomedics by 37.2% during the second quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock valued at $42,549,000 after purchasing an additional 1,305,298 shares during the period. Goldman Sachs Group Inc. grew its holdings in Immunomedics by 117.6% during the second quarter. Goldman Sachs Group Inc. now owns 907,623 shares of the biopharmaceutical company’s stock valued at $8,015,000 after purchasing an additional 490,544 shares during the period. Finally, NEA Management Company LLC bought a new stake in Immunomedics during the third quarter valued at about $38,762,000. 76.28% of the stock is owned by institutional investors.
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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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