Immunomedics (NASDAQ:IMMU) Given a $30.00 Price Target by Cowen Analysts
Immunomedics (NASDAQ:IMMU) has been given a $30.00 target price by research analysts at Cowen in a report issued on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cowen’s price target would suggest a potential upside of 81.38% from the company’s current price.
IMMU has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Jefferies Financial Group set a $22.00 price target on shares of Immunomedics and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald started 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. Piper Jaffray Companies set a $20.00 price objective on shares of Immunomedics and gave the company a “buy” rating in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $26.00 target price (down previously from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.33.
Shares of IMMU traded up $0.95 during trading hours on Tuesday, reaching $16.54. 4,431,161 shares of the company’s stock traded hands, compared to its average volume of 2,730,737. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -16.06 and a beta of 2.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93. Immunomedics has a twelve month low of $11.55 and a twelve month high of $24.99. The business’s fifty day simple moving average is $14.19 and its two-hundred day simple moving average is $15.22.
In other Immunomedics news, insider Avoro Capital Advisors Llc bought 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $13.55 per share, with a total value of $13,550,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bryan Ball bought 5,000 shares of Immunomedics stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $13.35 per share, with a total value of $66,750.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $66,750. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,405,000 shares of company stock worth $18,916,750. 9.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Coastal Investment Advisors Inc. boosted its stake in shares of Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 800 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Immunomedics by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 43,041 shares of the biopharmaceutical company’s stock worth $597,000 after acquiring an additional 1,127 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Immunomedics by 215.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,305 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Immunomedics by 3.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock worth $924,000 after purchasing an additional 1,757 shares during the period. Finally, Cornerstone Advisors Inc. acquired a new stake in shares of Immunomedics during the first quarter worth $40,000. 88.59% of the stock is currently owned by 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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