Immunomedics (NASDAQ:IMMU) Shares Gap Down to $13.26

Immunomedics, Inc. (NASDAQ:IMMU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.19, but opened at $13.26. Immunomedics shares last traded at $12.63, with a volume of 812,049 shares.

A number of research analysts have recently issued reports on IMMU shares. BidaskClub upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Immunomedics in a research report on Monday. Jefferies Financial Group set a $22.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald started coverage on shares of Immunomedics in a research report on Monday, August 19th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Piper Jaffray Companies set a $20.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Immunomedics currently has an average rating of “Buy” and an average price target of $26.90.

The stock has a market capitalization of $2.55 billion, a P/E ratio of -12.25 and a beta of 2.07. The company’s 50-day moving average is $14.58 and its two-hundred day moving average is $15.16. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 0.06.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.09). During the same quarter in the previous year, the company posted ($0.68) EPS. Sell-side analysts expect that Immunomedics, Inc. will post -1.66 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of IMMU. Steward Partners Investment Advisory LLC bought a new stake in Immunomedics in the 2nd quarter valued at about $49,000. Coastal Investment Advisors Inc. lifted its position in Immunomedics by 23.5% in 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 last quarter. US Bancorp DE lifted its position in Immunomedics by 56.0% in the 2nd 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 last quarter. Arden Trust Co bought a new stake in Immunomedics in the 2nd quarter valued at about $143,000. Finally, Sawtooth Solutions LLC bought a new stake in Immunomedics in the 2nd quarter valued at about $143,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.

Immunomedics Company Profile (NASDAQ:IMMU)

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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