Piper Jaffray Companies set a $20.00 target price on Immunomedics (NASDAQ:IMMU) in a research note issued to investors on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research firms have also recently commented on IMMU. Zacks Investment Research raised Immunomedics from a sell rating to a hold rating in a research note on Tuesday, July 16th. ValuEngine raised Immunomedics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. BidaskClub cut Immunomedics from a hold rating to a sell rating in a research note on Wednesday, August 28th. Cantor Fitzgerald began coverage on Immunomedics in a research report on Monday, August 19th. They set an overweight rating and a $28.00 price objective on the stock. Finally, HC Wainwright reaffirmed a buy rating and set a $26.00 price objective (down from $28.00) on shares of Immunomedics in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Immunomedics currently has a consensus rating of Buy and a consensus price target of $28.33.
Shares of NASDAQ IMMU traded up $0.28 during trading on Tuesday, reaching $16.00. The company had a trading volume of 9,034 shares, compared to its average volume of 1,934,543. Immunomedics has a 12-month low of $11.55 and a 12-month high of $24.99. The stock has a market cap of $3.10 billion, a PE ratio of -15.70 and a beta of 2.06. The business’s 50-day moving average is $14.19 and its 200 day moving average is $15.22. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 0.06.
In related news, insider Bryan Ball acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $13.35 per share, with a total value of $66,750.00. Following the completion of the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at $66,750. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $13.55 per share, for a total transaction of $13,550,000.00. The disclosure for this purchase can be found here. Insiders bought 1,405,000 shares of company stock worth $18,916,750 in the last ninety days. Corporate insiders own 9.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Coastal Investment Advisors Inc. raised its stake in Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 800 shares during the period. Envestnet Asset Management Inc. raised its stake in Immunomedics by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 43,041 shares of the biopharmaceutical company’s stock valued at $597,000 after purchasing an additional 1,127 shares during the period. Global Retirement Partners LLC raised its stake in Immunomedics by 215.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,305 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Immunomedics by 3.8% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock valued at $924,000 after purchasing an additional 1,757 shares during the period. Finally, Cornerstone Advisors Inc. bought a new stake in Immunomedics during the 1st quarter valued at approximately $40,000. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
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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