Immunomedics (NASDAQ:IMMU) Receives “Buy” Rating from HC Wainwright

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HC Wainwright restated their buy rating on shares of Immunomedics (NASDAQ:IMMU) in a research report report published on Tuesday, AnalystRatings.com reports. They currently have a $26.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on IMMU. B. Riley set a $28.00 target price on shares of Immunomedics and gave the stock a buy rating in a report on Monday, September 30th. Cantor Fitzgerald assumed coverage on Immunomedics in a report on Monday, August 19th. They issued an overweight rating and a $28.00 price target on the stock. Wells Fargo & Co increased their price objective on Immunomedics from $14.00 to $16.00 and gave the company a market perform rating in a research report on Monday, September 30th. Jefferies Financial Group set a $22.00 price objective on Immunomedics and gave the stock a buy rating in a research note on Tuesday, September 10th. Finally, BidaskClub raised Immunomedics from a buy rating to a strong-buy rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Immunomedics currently has a consensus rating of Buy and a consensus price target of $26.22.

Shares of NASDAQ IMMU opened at $19.00 on Tuesday. Immunomedics has a twelve month low of $11.55 and a twelve month high of $21.13. The company has a current ratio of 6.51, a quick ratio of 6.51 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $17.22 and a two-hundred day moving average of $15.01. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -18.45 and a beta of 2.16.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.09). During the same period in the prior year, the business earned ($0.34) EPS. As a group, research analysts predict that Immunomedics will post -1.78 earnings per share for the current year.

In other Immunomedics news, insider Bryan Ball bought 5,000 shares of Immunomedics stock in a transaction dated Thursday, October 3rd. The stock was bought at an average price of $14.18 per share, for a total transaction of $70,900.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at $141,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Avoro Capital Advisors Llc bought 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $13.23 per share, with a total value of $13,230,000.00. The disclosure for this purchase can be found here. Company insiders own 9.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co NY boosted its holdings in Immunomedics by 18.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 57,052 shares of the biopharmaceutical company’s stock valued at $757,000 after acquiring an additional 8,942 shares during the period. Squarepoint Ops LLC bought a new position in shares of Immunomedics in the third quarter worth about $812,000. IHT Wealth Management LLC increased its stake in shares of Immunomedics by 4.6% in the third quarter. IHT Wealth Management LLC now owns 72,747 shares of the biopharmaceutical company’s stock worth $965,000 after purchasing an additional 3,230 shares during the period. Granahan Investment Management Inc. MA lifted its position in shares of Immunomedics by 9.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 536,288 shares of the biopharmaceutical company’s stock worth $7,111,000 after purchasing an additional 45,787 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Immunomedics by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 272,736 shares of the biopharmaceutical company’s stock worth $3,616,000 after purchasing an additional 3,258 shares during the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

About Immunomedics

Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.

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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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