Immunomedics (IMMU) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Immunomedics (NASDAQ:IMMU) from a hold rating to a sell rating in a report published on Saturday.

Other equities analysts have also issued research reports about the company. Wells Fargo & Co boosted their price objective on Immunomedics from $25.00 to $31.00 and gave the stock an outperform rating in a research note on Monday, June 4th. B. Riley assumed coverage on Immunomedics in a research note on Thursday, June 7th. They issued a buy rating and a $53.00 price objective on the stock. ValuEngine lowered Immunomedics from a strong-buy rating to a buy rating in a research note on Monday, June 11th. Zacks Investment Research lowered Immunomedics from a hold rating to a sell rating in a research note on Thursday, July 12th. Finally, TheStreet lowered Immunomedics from a c- rating to a d+ rating in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Immunomedics currently has an average rating of Buy and an average price target of $32.00.

Shares of IMMU stock opened at $22.27 on Friday. The company has a current ratio of 14.83, a quick ratio of 14.83 and a debt-to-equity ratio of 0.05. Immunomedics has a one year low of $8.68 and a one year high of $27.33.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.46). The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $4.27 million. Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 124.54%. Immunomedics’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.48) EPS. sell-side analysts anticipate that Immunomedics will post -1.09 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Quantitative Systematic Strategies LLC acquired a new position in Immunomedics in the first quarter worth $180,000. First Allied Advisory Services Inc. acquired a new position in Immunomedics in the second quarter worth $205,000. Jasper Ridge Partners L.P. acquired a new position in Immunomedics in the second quarter worth $259,000. Xact Kapitalforvaltning AB boosted its stake in Immunomedics by 54.5% in the first quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Immunomedics in the second quarter worth $298,000. 78.46% of the stock is currently owned by institutional investors.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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