Immunomedics (IMMU) Raised to “Buy” at BidaskClub

Immunomedics (NASDAQ:IMMU) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also issued reports on IMMU. ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Jefferies Group increased their price target on shares of Immunomedics from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Immunomedics has an average rating of “Buy” and a consensus target price of $19.00.

Shares of Immunomedics (NASDAQ:IMMU) opened at $15.11 on Friday. Immunomedics has a 1-year low of $4.15 and a 1-year high of $18.93. The company has a debt-to-equity ratio of -0.29, a current ratio of 0.74 and a quick ratio of 0.74.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.06). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.90 million. sell-side analysts forecast that Immunomedics will post -1.16 EPS for the current fiscal year.

In other Immunomedics news, insider Behzad Aghazadeh purchased 1,325,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $10.47 per share, with a total value of $13,872,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian A. Markison sold 8,390 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,179,226.42. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IMMU. Amalgamated Bank increased its holdings in Immunomedics by 8.1% during the 2nd quarter. Amalgamated Bank now owns 12,911 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 966 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Immunomedics by 11.4% during the 2nd 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 last quarter. The Manufacturers Life Insurance Company grew its stake in Immunomedics by 2.3% during the 2nd 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 last quarter. Voya Investment Management LLC grew its stake in Immunomedics by 5.9% during the 2nd quarter. Voya Investment Management LLC now owns 50,433 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 2,808 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Immunomedics by 2.4% during the 2nd quarter. Alliancebernstein L.P. now owns 178,198 shares of the biopharmaceutical company’s stock worth $1,573,000 after acquiring an additional 4,200 shares during the period. 75.20% of the stock is currently owned by hedge funds and other institutional investors.

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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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