Immunomedics (NASDAQ:IMMU) Upgraded by BidaskClub to Hold
Several other brokerages have also recently commented on IMMU. Cowen set a $30.00 target price on shares of Immunomedics and gave the company a buy rating in a research report on Tuesday. HC Wainwright restated a buy rating and issued a $26.00 target price (down from $28.00) on shares of Immunomedics in a research report on Thursday, August 8th. 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 objective on shares of Immunomedics and gave the stock a buy rating in a research report on Tuesday. Finally, Cantor Fitzgerald began coverage on shares of Immunomedics in a research report on Monday, August 19th. They set an overweight rating and a $28.00 price objective for the company. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $28.33.
Immunomedics stock traded up $1.00 during midday trading on Thursday, hitting $16.72. The company’s stock had a trading volume of 2,486,559 shares, compared to its average volume of 2,733,294. Immunomedics has a 1-year low of $11.55 and a 1-year high of $24.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93. The company has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $15.22. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -16.23 and a beta of 2.06.
In other news, insider Bryan Ball acquired 5,000 shares of Immunomedics stock in a transaction dated Thursday, June 20th. The shares were bought 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 in the company, valued at approximately $66,750. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Avoro Capital Advisors Llc acquired 400,000 shares of Immunomedics stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average cost of $13.25 per share, for a total transaction of $5,300,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,405,000 shares of company stock worth $18,916,750 over the last three months. Insiders own 9.40% of the company’s stock.
Several large investors have recently bought and sold shares of IMMU. FMR LLC boosted its stake in shares of Immunomedics by 177.7% in the 1st quarter. FMR LLC now owns 22,867,854 shares of the biopharmaceutical company’s stock valued at $439,291,000 after purchasing an additional 14,632,374 shares during the last quarter. Boxer Capital LLC boosted its stake in shares of Immunomedics by 60.2% in the 2nd quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock valued at $91,084,000 after purchasing an additional 2,467,000 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Immunomedics in the 1st quarter valued at $44,379,000. Fiera Capital Corp bought a new stake in shares of Immunomedics in the 1st quarter valued at $39,804,000. Finally, BlackRock Inc. boosted its stake in shares of Immunomedics by 9.9% in the 2nd quarter. BlackRock Inc. now owns 13,798,803 shares of the biopharmaceutical company’s stock valued at $191,389,000 after purchasing an additional 1,239,462 shares during the last quarter. 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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