Immunomedics (IMMU) Issues Earnings Results, Misses Estimates By $0.46 EPS
Immunomedics (NASDAQ:IMMU) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46), Fidelity Earnings reports. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $4.27 million. Immunomedics’s revenue was down 33.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.48) EPS.
Immunomedics stock traded up $0.19 during mid-day trading on Friday, hitting $22.28. 2,329,697 shares of the stock were exchanged, compared to its average volume of 1,455,694. The company has a debt-to-equity ratio of 2.81, a quick ratio of 3.94 and a current ratio of 3.94. Immunomedics has a 12 month low of $8.68 and a 12 month high of $27.33. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -21.63 and a beta of 1.72.
In other news, Director Venbio Select Advisor Llc purchased 575,000 shares of the stock in a transaction on Friday, June 15th. The stock was purchased at an average price of $24.00 per share, for a total transaction of $13,800,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.80% of the stock is currently owned by company insiders.
Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.
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