According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “
A number of other equities analysts have also weighed in on IMMU. Piper Jaffray Companies set a $20.00 target price on Immunomedics and gave the stock a buy rating in a research note on Monday, April 8th. ValuEngine lowered Viewray from a buy rating to a hold rating in a research note on Wednesday, April 24th. Berenberg Bank decreased their target price on Lucara Diamond from C$1.60 to C$1.50 in a research note on Wednesday, March 27th. HC Wainwright upped their target price on Acceleron Pharma from $66.00 to $69.00 and gave the stock a buy rating in a research note on Monday, May 13th. Finally, BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $28.45.
Immunomedics (NASDAQ:IMMU) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.10). During the same period last year, the company posted ($0.21) earnings per share. As a group, equities analysts forecast that Immunomedics will post -1.59 earnings per share for the current year.
In related news, insider Bryan Ball bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $13.35 per share, for a total transaction of $66,750.00. Following the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $66,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Avoro Capital Advisors Llc bought 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $15.11 per share, with a total value of $11,332,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,976,078 shares of company stock valued at $66,108,902 over the last 90 days. 9.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its stake in Immunomedics by 26.1% in the fourth quarter. LPL Financial LLC now owns 15,988 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 3,309 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Immunomedics by 3.6% in the fourth quarter. BlackRock Inc. now owns 12,639,350 shares of the biopharmaceutical company’s stock worth $180,363,000 after buying an additional 435,568 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Immunomedics by 2.9% in the fourth quarter. Northern Trust Corp now owns 1,886,072 shares of the biopharmaceutical company’s stock worth $26,913,000 after buying an additional 53,023 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Immunomedics by 22.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 15,612 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 2,817 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Immunomedics by 5.9% in the fourth quarter. California State Teachers Retirement System now owns 230,308 shares of the biopharmaceutical company’s stock worth $3,286,000 after buying an additional 12,888 shares during the last quarter. Institutional investors own 90.89% 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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