Immunomedics (NASDAQ:IMMU) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, BidAskClub reports.
A number of other research firms have also commented on IMMU. Zacks Investment Research raised Immunomedics from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Friday, April 12th. Piper Jaffray Companies set a $20.00 price objective on Immunomedics and gave the stock a “buy” rating in a report on Monday, April 8th. Berenberg Bank assumed coverage on Immunomedics in a report on Wednesday, March 27th. They issued a “buy” rating and a $40.00 price objective for the company. Wells Fargo & Co lowered Immunomedics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $44.00 to $18.00 in a report on Friday, January 18th. Finally, HC Wainwright set a $28.00 price objective on Immunomedics and gave the stock a “buy” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $28.45.
Immunomedics stock opened at $16.99 on Thursday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -16.50 and a beta of 2.11. Immunomedics has a 12 month low of $11.55 and a 12 month high of $27.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.45 and a quick ratio of 13.45.
Immunomedics (NASDAQ:IMMU) last posted its earnings results on Monday, February 25th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.16). Equities research analysts forecast that Immunomedics will post -1.38 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of IMMU. BlackRock Inc. grew its holdings in shares of Immunomedics by 8.7% in the third quarter. BlackRock Inc. now owns 12,203,782 shares of the biopharmaceutical company’s stock worth $254,206,000 after acquiring an additional 974,954 shares during the period. Credit Suisse AG lifted its position in Immunomedics by 11.8% during the third quarter. Credit Suisse AG now owns 117,982 shares of the biopharmaceutical company’s stock valued at $2,458,000 after purchasing an additional 12,433 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Immunomedics by 131.5% during the third quarter. Dimensional Fund Advisors LP now owns 199,337 shares of the biopharmaceutical company’s stock valued at $4,152,000 after purchasing an additional 113,240 shares in the last quarter. Renaissance Technologies LLC lifted its position in Immunomedics by 587.0% during the third quarter. Renaissance Technologies LLC now owns 515,307 shares of the biopharmaceutical company’s stock valued at $10,734,000 after purchasing an additional 440,300 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Immunomedics by 190.7% during the third quarter. Deutsche Bank AG now owns 765,125 shares of the biopharmaceutical company’s stock valued at $15,936,000 after purchasing an additional 501,879 shares in the last quarter. 85.22% of the stock is owned by institutional investors.
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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