$23.14 Million in Sales Expected for Immunomedics, Inc. (NASDAQ:IMMU) This Quarter

Wall Street brokerages forecast that Immunomedics, Inc. (NASDAQ:IMMU) will announce $23.14 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Immunomedics’ earnings, with the lowest sales estimate coming in at $3.00 million and the highest estimate coming in at $60.50 million. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Immunomedics will report full year sales of $88.69 million for the current fiscal year, with estimates ranging from $40.13 million to $135.70 million. For the next financial year, analysts anticipate that the company will post sales of $306.56 million, with estimates ranging from $212.20 million to $364.86 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Immunomedics.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.02. During the same quarter in the prior year, the firm posted ($0.46) earnings per share.

Several research analysts have recently issued reports on IMMU shares. Morgan Stanley raised their target price on shares of Immunomedics from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. ValuEngine cut shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. HC Wainwright lifted their price target on shares of Immunomedics from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Barclays assumed coverage on shares of Immunomedics in a report on Monday, May 4th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, BidaskClub upgraded shares of Immunomedics from a “hold” rating to a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.29.

Shares of Immunomedics stock traded up $0.14 on Friday, hitting $40.11. The stock had a trading volume of 63,918 shares, compared to its average volume of 4,356,889. The company has a quick ratio of 8.37, a current ratio of 8.37 and a debt-to-equity ratio of 0.05. Immunomedics has a one year low of $8.80 and a one year high of $42.94. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of -21.87 and a beta of 3.36. The stock’s 50-day simple moving average is $34.89 and its two-hundred day simple moving average is $23.93.

In other news, Director Avoro Capital Advisors Llc purchased 1,750,000 shares of the stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $28.50 per share, with a total value of $49,875,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of IMMU. Eudaimonia Partners LLC acquired a new position in Immunomedics during the 1st quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Immunomedics in the 4th quarter valued at about $37,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Immunomedics in the 4th quarter valued at about $40,000. Windsor Creek Advisors LLC purchased a new stake in shares of Immunomedics in the 1st quarter valued at about $40,000. Finally, Pathstone Family Office LLC purchased a new stake in Immunomedics during the 1st quarter valued at approximately $40,000. 76.58% of the stock is owned by institutional investors and hedge funds.

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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