B. Riley began coverage on shares of Immunomedics (NASDAQ:IMMU) in a report published on Tuesday morning, The Fly reports. The brokerage issued a buy rating and a $55.00 price target on the biopharmaceutical company’s stock.
IMMU has been the topic of a number of other research reports. Jefferies Financial Group set a $30.00 target price on Immunomedics and gave the stock a buy rating in a report on Sunday, December 23rd. Piper Jaffray Companies reaffirmed a buy rating on shares of Immunomedics in a report on Thursday, December 20th. Cowen reaffirmed a buy rating and set a $30.00 target price on shares of Immunomedics in a report on Friday, December 7th. BidaskClub upgraded Immunomedics from a sell rating to a hold rating in a research report on Saturday, December 1st. Finally, Zacks Investment Research cut Immunomedics from a hold rating to a sell rating in a research report on Tuesday, November 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $37.38.
Shares of NASDAQ IMMU traded up $0.13 during trading on Tuesday, reaching $17.90. The company had a trading volume of 94,492 shares, compared to its average volume of 3,005,467. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -17.21 and a beta of 2.13. Immunomedics has a twelve month low of $12.86 and a twelve month high of $27.33. The company has a quick ratio of 13.45, a current ratio of 13.45 and a debt-to-equity ratio of 0.06.
A number of institutional investors and hedge funds have recently bought and sold shares of IMMU. RA Capital Management LLC acquired a new stake in Immunomedics in the 2nd quarter valued at approximately $73,845,000. BlackRock Inc. increased its position in Immunomedics by 24.3% in the 2nd quarter. BlackRock Inc. now owns 11,228,828 shares of the biopharmaceutical company’s stock valued at $265,786,000 after acquiring an additional 2,195,066 shares during the period. Voya Investment Management LLC increased its position in Immunomedics by 2,844.1% in the 2nd quarter. Voya Investment Management LLC now owns 1,333,820 shares of the biopharmaceutical company’s stock valued at $31,571,000 after acquiring an additional 1,288,515 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Immunomedics by 139.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,765,500 shares of the biopharmaceutical company’s stock valued at $36,775,000 after purchasing an additional 1,027,500 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Immunomedics by 37.4% during the 2nd quarter. Millennium Management LLC now owns 3,742,519 shares of the biopharmaceutical company’s stock valued at $88,585,000 after purchasing an additional 1,019,401 shares in the last quarter. Hedge funds and other institutional investors own 77.09% 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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