Immunomedics (NASDAQ:IMMU) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Immunomedics (NASDAQ:IMMU) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “

IMMU has been the subject of a number of other reports. HC Wainwright increased their target price on Acceleron Pharma from $66.00 to $69.00 and gave the stock a buy rating in a research note on Monday, May 13th. BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Berenberg Bank lowered their target price on Lucara Diamond from C$1.60 to C$1.50 in a research note on Wednesday, March 27th. Piper Jaffray Companies set a $20.00 target price on Immunomedics and gave the stock a buy rating in a research note on Monday, April 8th. Finally, ValuEngine downgraded Viewray from a buy rating to a hold rating in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $28.45.

NASDAQ IMMU traded down $0.12 during trading hours on Tuesday, reaching $15.18. 15,550 shares of the company’s stock were exchanged, compared to its average volume of 1,979,619. The business’s 50-day moving average price is $13.50. Immunomedics has a one year low of $11.55 and a one year high of $26.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.89 and a quick ratio of 7.89. The firm has a market capitalization of $2.92 billion, a P/E ratio of -14.87 and a beta of 2.02.

Immunomedics (NASDAQ:IMMU) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.10). During the same period last year, the company earned ($0.21) earnings per share. Analysts predict that Immunomedics will post -1.59 EPS for the current year.

In related news, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $13.55 per share, with a total value of $13,550,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bryan Ball acquired 5,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $13.35 per share, with a total value of $66,750.00. Following the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,976,078 shares of company stock valued at $66,108,902. Insiders own 9.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMMU. Global Retirement Partners LLC boosted its holdings in shares of Immunomedics by 215.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,305 shares during the last quarter. Cornerstone Advisors Inc. acquired a new stake in Immunomedics during the 1st quarter valued at $40,000. Amundi Pioneer Asset Management Inc. bought a new position in Immunomedics during the 4th quarter worth $84,000. Exane Derivatives increased its position in Immunomedics by 167.1% during the 1st quarter. Exane Derivatives now owns 5,999 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 3,753 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Immunomedics by 13.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,084 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 706 shares during the period. 90.89% of the stock is owned by institutional investors.

Immunomedics Company Profile

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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