Immunomedics, Inc. (IMMU) Expected to Post Earnings of -$0.28 Per Share

Wall Street analysts expect that Immunomedics, Inc. (NASDAQ:IMMU) will post earnings of ($0.28) per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Immunomedics’ earnings, with estimates ranging from ($0.31) to ($0.21). Immunomedics reported earnings per share of ($0.16) during the same quarter last year, which suggests a negative year over year growth rate of 75%. The firm is expected to report its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Immunomedics will report full-year earnings of ($1.09) per share for the current year, with EPS estimates ranging from ($1.21) to ($0.82). For the next financial year, analysts forecast that the firm will post earnings of ($0.91) per share, with EPS estimates ranging from ($1.31) to ($0.74). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Immunomedics.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.46). Immunomedics had a negative return on equity of 124.54% and a negative net margin of 12,701.21%. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $4.27 million. During the same period last year, the company posted ($0.48) EPS. The business’s revenue for the quarter was down 33.3% on a year-over-year basis.



Several equities analysts recently commented on IMMU shares. Goldman Sachs Group started coverage on shares of Immunomedics in a research report on Monday, September 17th. They set a “buy” rating and a $36.00 price target for the company. Guggenheim started coverage on shares of Immunomedics in a research report on Tuesday, September 18th. They set a “buy” rating and a $33.00 price target for the company. TheStreet lowered shares of Immunomedics from a “c-” rating to a “d+” rating in a research report on Tuesday, September 11th. BidaskClub lowered shares of Immunomedics from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. Finally, Wells Fargo & Co increased their price objective on shares of Immunomedics from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.00.

Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its position in shares of Immunomedics by 32.0% in the 3rd quarter. Alps Advisors Inc. now owns 319,322 shares of the biopharmaceutical company’s stock worth $6,651,000 after buying an additional 77,451 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Immunomedics by 417.7% in the 3rd quarter. First Trust Advisors LP now owns 137,465 shares of the biopharmaceutical company’s stock worth $2,863,000 after buying an additional 110,913 shares during the last quarter. Strs Ohio lifted its position in shares of Immunomedics by 15.3% in the 3rd quarter. Strs Ohio now owns 74,451 shares of the biopharmaceutical company’s stock worth $1,550,000 after buying an additional 9,900 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Immunomedics in the 3rd quarter worth about $517,000. Finally, United Services Automobile Association increased its holdings in shares of Immunomedics by 103.2% in the 2nd quarter. United Services Automobile Association now owns 151,502 shares of the biopharmaceutical company’s stock worth $3,586,000 after acquiring an additional 76,948 shares during the period. 78.19% of the stock is owned by institutional investors.

Shares of IMMU stock opened at $22.05 on Wednesday. Immunomedics has a one year low of $8.68 and a one year high of $27.33. The company has a quick ratio of 14.83, a current ratio of 14.83 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.20 billion, a P/E ratio of -21.41 and a beta of 1.85.

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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Earnings History and Estimates for Immunomedics (NASDAQ:IMMU)

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