Immunomedics (NASDAQ:IMMU) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Immunomedics (NASDAQ:IMMU) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday, ValuEngine reports.

IMMU has been the subject of a number of other research reports. Piper Jaffray Companies set a $20.00 price objective on Immunomedics and gave the company a buy rating in a research report on Monday, April 8th. BidaskClub raised Immunomedics from a sell rating to a hold rating in a research report on Friday, June 28th. HC Wainwright reaffirmed a buy rating and set a $28.00 price objective on shares of Immunomedics in a research report on Monday, May 13th. Finally, Zacks Investment Research raised Immunomedics from a sell rating to a hold rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $28.45.

Shares of IMMU traded down $0.27 on Thursday, reaching $13.55. The stock had a trading volume of 68,067 shares, compared to its average volume of 1,573,118. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -13.25 and a beta of 1.98. The company has a quick ratio of 7.89, a current ratio of 7.89 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $14.17. Immunomedics has a 12-month low of $11.55 and a 12-month high of $26.99.

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.10). During the same quarter in the prior year, the company earned ($0.21) earnings per share. As a group, sell-side analysts predict that Immunomedics will post -1.59 earnings per share for the current fiscal year.

In other Immunomedics news, insider Bryan Ball bought 5,000 shares of Immunomedics stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $13.35 per share, with a total value of $66,750.00. Following the acquisition, the insider now owns 5,000 shares in the company, valued at $66,750. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Avoro Capital Advisors Llc bought 400,000 shares of Immunomedics stock in a transaction on Wednesday, June 26th. The stock was acquired at an average cost of $13.25 per share, with a total value of $5,300,000.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,976,078 shares of company stock valued at $66,108,902. Corporate insiders own 9.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of IMMU. LPL Financial LLC lifted its position in Immunomedics by 26.1% during the 4th quarter. LPL Financial LLC now owns 15,988 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 3,309 shares during the period. Great West Life Assurance Co. Can lifted its position in Immunomedics by 22.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 15,612 shares of the biopharmaceutical company’s stock valued at $215,000 after purchasing an additional 2,817 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Immunomedics during the 4th quarter valued at about $84,000. Legal & General Group Plc lifted its position in Immunomedics by 19.7% during the 4th quarter. Legal & General Group Plc now owns 58,300 shares of the biopharmaceutical company’s stock valued at $832,000 after purchasing an additional 9,593 shares during the period. Finally, Amalgamated Bank acquired a new position in Immunomedics during the 4th quarter valued at about $294,000. 91.02% of the stock is owned by institutional investors and hedge funds.

About Immunomedics

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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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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