Immunomedics (IMMU) Lowered to “Buy” at BidaskClub

Immunomedics (NASDAQ:IMMU) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also commented on IMMU. ValuEngine lowered Immunomedics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Zacks Investment Research lowered Immunomedics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Jefferies Group raised their price objective on Immunomedics from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $19.00.

Immunomedics (IMMU) opened at $16.66 on Wednesday. The firm has a market capitalization of $2,530.00, a PE ratio of -7.44 and a beta of 1.48. Immunomedics has a 12 month low of $4.08 and a 12 month 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 data on Thursday, November 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.06). The business had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.90 million. analysts expect that Immunomedics will post -1.16 earnings per share for the current fiscal year.

In other Immunomedics news, insider Behzad Aghazadeh acquired 1,325,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average cost of $10.47 per share, for a total transaction of $13,872,750.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the director now owns 99,178 shares of the company’s stock, 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.

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in shares of Immunomedics during the 4th quarter valued at about $17,941,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Immunomedics during the 4th quarter valued at about $808,000. Jennison Associates LLC lifted its holdings in shares of Immunomedics by 1.1% during the 4th quarter. Jennison Associates LLC now owns 1,830,914 shares of the biopharmaceutical company’s stock valued at $29,588,000 after buying an additional 19,195 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Immunomedics by 10.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 517,259 shares of the biopharmaceutical company’s stock valued at $8,359,000 after buying an additional 48,879 shares during the last quarter. Finally, NEXT Financial Group Inc lifted its holdings in shares of Immunomedics by 9.6% during the 4th quarter. NEXT Financial Group Inc now owns 121,350 shares of the biopharmaceutical company’s stock valued at $1,961,000 after buying an additional 10,600 shares during the last quarter. Institutional investors and hedge funds own 75.21% of the company’s stock.

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Immunomedics Company Profile

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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