Immunomedics, Inc. (IMMU) Receives $13.00 Consensus Price Target from Analysts
Shares of Immunomedics, Inc. (NASDAQ:IMMU) have been given an average rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.00.
A number of equities analysts recently commented on the company. Jefferies Group LLC set a $9.00 target price on Immunomedics and gave the company a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research cut Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub upgraded Immunomedics from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. ValuEngine upgraded Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cowen and Company initiated coverage on Immunomedics in a report on Friday, May 26th. They set an “outperform” rating for the company.
In other Immunomedics news, insider David M. Goldenberg sold 20,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $12.64, for a total value of $252,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $10.72, for a total value of $428,800.00. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $1,051,200 in the last ninety days. 6.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of IMMU. FMR LLC raised its position in Immunomedics by 260.6% in the 2nd quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock valued at $48,537,000 after purchasing an additional 3,972,388 shares in the last quarter. Redmile Group LLC acquired a new stake in Immunomedics in the 1st quarter valued at about $21,874,000. Palo Alto Investors LLC acquired a new stake in Immunomedics in the 2nd quarter valued at about $26,582,000. State Street Corp raised its position in Immunomedics by 118.2% in the 1st quarter. State Street Corp now owns 3,513,549 shares of the biopharmaceutical company’s stock valued at $22,730,000 after purchasing an additional 1,903,355 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Immunomedics in the 2nd quarter valued at about $10,570,000. 77.99% of the stock is currently owned by institutional investors.
Immunomedics (NASDAQ IMMU) traded down 4.73% during mid-day trading on Wednesday, hitting $11.29. The company had a trading volume of 5,417,982 shares. The company has a 50-day moving average price of $9.93 and a 200 day moving average price of $7.81. The company’s market capitalization is $1.26 billion. Immunomedics has a 52-week low of $2.02 and a 52-week high of $12.96.
Immunomedics (NASDAQ:IMMU) last announced its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The company had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.75 million. During the same period last year, the business earned ($0.17) EPS. Immunomedics’s revenue for the quarter was down 31.2% compared to the same quarter last year. On average, analysts forecast that Immunomedics will post ($0.55) EPS for the current fiscal year.
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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