Immunomedics (NASDAQ:IMMU) Stock Rating Lowered by BidaskClub

Immunomedics (NASDAQ:IMMU) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald initiated coverage on Immunomedics in a research report on Monday, August 19th. They issued an “overweight” rating and a $28.00 price target on the stock. Piper Jaffray Companies set a $20.00 price objective on Immunomedics and gave the company a “buy” rating in a research report on Tuesday, September 10th. ValuEngine raised Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Co boosted their price target on Immunomedics from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of Immunomedics in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Immunomedics currently has a consensus rating of “Buy” and an average price target of $26.90.

IMMU traded up $0.23 during trading on Thursday, reaching $14.37. The company had a trading volume of 2,407,874 shares, compared to its average volume of 3,166,538. Immunomedics has a 12-month low of $11.55 and a 12-month high of $24.99. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -13.95 and a beta of 2.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. The firm’s 50-day simple moving average is $14.51 and its 200 day simple moving average is $15.09.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the business posted ($0.68) earnings per share. On average, sell-side analysts expect that Immunomedics will post -1.66 EPS for the current year.

In related news, Director Avoro Capital Advisors Llc acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average price of $13.23 per share, for a total transaction of $13,230,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bryan Ball acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average price of $14.18 per share, with a total value of $70,900.00. Following the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $141,800. The disclosure for this purchase can be found here. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Immunomedics by 177.7% in the first quarter. FMR LLC now owns 22,867,854 shares of the biopharmaceutical company’s stock valued at $439,291,000 after purchasing an additional 14,632,374 shares during the last quarter. Vanguard Group Inc. increased its holdings in Immunomedics by 2.3% in the second quarter. Vanguard Group Inc. now owns 15,152,261 shares of the biopharmaceutical company’s stock valued at $210,161,000 after purchasing an additional 340,156 shares during the last quarter. BlackRock Inc. increased its holdings in Immunomedics by 9.9% in the second quarter. BlackRock Inc. now owns 13,798,803 shares of the biopharmaceutical company’s stock valued at $191,389,000 after purchasing an additional 1,239,462 shares during the last quarter. Boxer Capital LLC increased its holdings in Immunomedics by 60.2% in the second quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock valued at $91,084,000 after purchasing an additional 2,467,000 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Immunomedics by 3.2% in the second quarter. Janus Henderson Group PLC now owns 3,956,289 shares of the biopharmaceutical company’s stock valued at $54,874,000 after purchasing an additional 124,387 shares during the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.

About Immunomedics

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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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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