Immunomedics, Inc. (NASDAQ:IMMU) Expected to Announce Earnings of -$0.35 Per Share

Equities research analysts expect Immunomedics, Inc. (NASDAQ:IMMU) to report earnings of ($0.35) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Immunomedics’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.43). Immunomedics posted earnings per share of ($0.40) during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Immunomedics will report full year earnings of ($1.45) per share for the current financial year, with EPS estimates ranging from ($1.61) to ($1.18). For the next year, analysts anticipate that the firm will report earnings of ($0.79) per share, with EPS estimates ranging from ($1.03) to ($0.61). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Immunomedics.

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

Several equities research analysts recently issued reports on IMMU shares. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a report on Friday. 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. ValuEngine lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Guggenheim lifted their price target on shares of Immunomedics from $48.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Cowen reissued a “buy” rating and set a $45.00 target price on shares of Immunomedics in a report on Monday, July 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Immunomedics presently has an average rating of “Buy” and an average target price of $37.29.

Shares of Immunomedics stock traded up $0.14 during midday trading on Thursday, hitting $40.11. 63,918 shares of the company traded hands, compared to its average volume of 4,356,889. 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 company has a debt-to-equity ratio of 0.05, a quick ratio of 8.37 and a current ratio of 8.37. The firm’s fifty day moving average price is $34.89 and its 200-day moving average price is $23.93. Immunomedics has a 12 month low of $8.80 and a 12 month high of $42.94.

In related news, Director Avoro Capital Advisors Llc purchased 1,750,000 shares of Immunomedics stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $28.50 per share, for a total transaction of $49,875,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.

Large investors have recently modified their holdings of the business. Eudaimonia Partners LLC purchased a new stake in shares of Immunomedics in the first quarter worth about $29,000. Meeder Asset Management Inc. bought a new position in Immunomedics during the fourth quarter valued at approximately $37,000. Chevy Chase Trust Holdings Inc. bought a new position in Immunomedics during the fourth quarter valued at approximately $40,000. Windsor Creek Advisors LLC bought a new position in shares of Immunomedics in the first quarter worth approximately $40,000. Finally, Pathstone Family Office LLC bought a new position in shares of Immunomedics in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.58% of the company’s stock.

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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