A number of other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Immunomedics from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Piper Jaffray Companies set a $20.00 price objective on shares of Immunomedics and gave the company a buy rating in a report on Tuesday, September 10th. Cantor Fitzgerald assumed coverage on shares of Immunomedics in a report on Monday, August 19th. They issued an overweight rating and a $28.00 price objective for the company. Cowen set a $30.00 price objective on shares of Immunomedics and gave the company a buy rating in a report on Tuesday, September 10th. Finally, HC Wainwright reissued a buy rating and issued a $26.00 price objective (down previously from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $28.33.
Shares of NASDAQ IMMU opened at $16.72 on Thursday. The firm has a 50-day simple moving average of $14.22 and a 200-day simple moving average of $15.23. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -16.23 and a beta of 2.06. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 0.06. Immunomedics has a 52 week low of $11.55 and a 52 week high of $24.99.
In other Immunomedics news, Director Avoro Capital Advisors Llc acquired 400,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average price of $13.25 per share, with a total value of $5,300,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Ball acquired 5,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $13.35 per share, with a total value of $66,750.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at approximately $66,750. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,405,000 shares of company stock valued at $18,916,750. 9.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in shares of Immunomedics by 215.7% in the first 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. Cornerstone Advisors Inc. purchased a new position in shares of Immunomedics in the first quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Immunomedics in the second quarter valued at approximately $49,000. Coastal Investment Advisors Inc. boosted its stake in shares of Immunomedics by 23.5% in the second 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. Finally, US Bancorp DE boosted its stake in shares of Immunomedics by 56.0% in the second quarter. US Bancorp DE now owns 6,749 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 2,423 shares during the period. 88.58% of the stock is owned by institutional investors and hedge funds.
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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