Immunomedics, Inc. (NASDAQ:IMMU) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2019 earnings per share estimates for shares of Immunomedics in a report released on Thursday, May 9th. Piper Jaffray Companies analyst J. Catanzaro now forecasts that the biopharmaceutical company will earn ($0.41) per share for the quarter, down from their previous estimate of ($0.33). Piper Jaffray Companies has a “Buy” rating and a $20.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Immunomedics’ Q3 2019 earnings at ($0.41) EPS, Q4 2019 earnings at ($0.41) EPS, FY2019 earnings at ($1.68) EPS, Q1 2020 earnings at ($0.42) EPS, Q2 2020 earnings at ($0.44) EPS, Q3 2020 earnings at ($0.43) EPS, Q4 2020 earnings at ($0.39) EPS, FY2020 earnings at ($3.30) EPS, FY2021 earnings at ($0.56) EPS and FY2023 earnings at $3.00 EPS.
A number of other analysts also recently issued reports on IMMU. Zacks Investment Research downgraded shares of Immunomedics from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Immunomedics in a report on Monday. ValuEngine downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Berenberg Bank began coverage on shares of Immunomedics in a report on Wednesday, March 27th. They set a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $28.45.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.10). During the same period in the previous year, the firm earned ($0.21) EPS.
A number of large investors have recently bought and sold shares of IMMU. FMR LLC raised its position in Immunomedics by 48.2% during the fourth quarter. FMR LLC now owns 8,235,480 shares of the biopharmaceutical company’s stock worth $117,519,000 after acquiring an additional 2,677,246 shares during the period. TimesSquare Capital Management LLC acquired a new position in Immunomedics during the first quarter worth $44,379,000. Fiera Capital Corp acquired a new position in Immunomedics during the first quarter worth $39,804,000. Norges Bank acquired a new position in Immunomedics during the fourth quarter worth $16,141,000. Finally, Frontier Capital Management Co. LLC acquired a new position in Immunomedics during the first quarter worth $20,859,000. Institutional investors own 85.33% of the company’s stock.
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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