Jefferies Financial Group Analysts Give Immunomedics (NASDAQ:IMMU) a $22.00 Price Target
Jefferies Financial Group set a $22.00 target price on Immunomedics (NASDAQ:IMMU) in a research report released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Immunomedics from a hold rating to a sell rating in a research note on Wednesday, August 28th. Cowen set a $30.00 target price on Immunomedics and gave the stock a buy rating in a research note on Wednesday, August 7th. HC Wainwright reiterated a buy rating and set a $26.00 target price (down from $28.00) on shares of Immunomedics in a research note on Thursday, August 8th. ValuEngine upgraded Immunomedics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald initiated coverage on Immunomedics in a research note on Monday, August 19th. They set an overweight rating and a $28.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $28.33.
IMMU traded up $0.28 during mid-day trading on Tuesday, reaching $16.00. 9,034 shares of the stock were exchanged, compared to its average volume of 1,934,543. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. The stock has a market capitalization of $3.10 billion, a PE ratio of -15.70 and a beta of 2.06. The company has a 50 day moving average price of $14.19 and a two-hundred day moving average price of $15.22. Immunomedics has a 1 year low of $11.55 and a 1 year high of $24.99.
In other Immunomedics news, insider Bryan Ball bought 5,000 shares of Immunomedics stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the completion of the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at $66,750. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Avoro Capital Advisors Llc bought 1,000,000 shares of Immunomedics stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $13.55 per share, with a total value of $13,550,000.00. The disclosure for this purchase can be found here. Insiders bought 1,405,000 shares of company stock valued at $18,916,750 in the last quarter. Corporate insiders own 9.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in IMMU. Global Retirement Partners LLC boosted its position in shares of Immunomedics by 215.7% in the first quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,305 shares during the period. Cornerstone Advisors Inc. bought a new position in shares of Immunomedics in the first quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC bought a new position in shares of Immunomedics in the second quarter valued at approximately $49,000. Coastal Investment Advisors Inc. boosted its position in shares of Immunomedics by 23.5% in the second quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 800 shares during the period. Finally, US Bancorp DE boosted its position in shares of Immunomedics by 56.0% in the second quarter. US Bancorp DE now owns 6,749 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 2,423 shares during the period. Institutional investors own 88.59% of the company’s stock.
Immunomedics Company Profile
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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