Immunomedics (NASDAQ:IMMU)'s stock had its "hold" rating restated by investment analysts at Barclays in a report issued on Wednesday, AnalystRatings.com reports. They presently have a $88.00 target price on the biopharmaceutical company's stock. Barclays's price objective would indicate a potential upside of 3.09% from the company's previous close.
A number of other brokerages also recently commented on IMMU. Jefferies Financial Group lowered Immunomedics from a "buy" rating to a "hold" rating in a research report on Tuesday. BidaskClub raised Immunomedics from a "sell" rating to a "hold" rating in a research note on Wednesday. Zacks Investment Research raised shares of Immunomedics from a "hold" rating to a "buy" rating and set a $36.00 price objective on the stock in a research report on Tuesday, June 30th. Bank of America boosted their target price on shares of Immunomedics from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Guggenheim downgraded shares of Immunomedics from a "buy" rating to a "neutral" rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of "Hold" and an average price target of $46.85.
Immunomedics stock traded up $0.61 during trading hours on Wednesday, hitting $85.36. The company had a trading volume of 11,274,911 shares, compared to its average volume of 3,837,950. Immunomedics has a fifty-two week low of $8.80 and a fifty-two week high of $86.91. The firm has a market capitalization of $19.73 billion, a P/E ratio of -49.34 and a beta of 3.42. The firm's fifty day moving average is $43.62 and its 200-day moving average is $31.73.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.39). The firm had revenue of $20.07 million for the quarter, compared to analyst estimates of $24.81 million. As a group, analysts expect that Immunomedics will post -1.07 EPS for the current year.
Several institutional investors have recently bought and sold shares of IMMU. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Immunomedics by 47.0% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,285 shares of the biopharmaceutical company's stock worth $246,000 after purchasing an additional 5,842 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Immunomedics in the first quarter worth $490,000. Rhumbline Advisers increased its position in Immunomedics by 10.6% during the first quarter. Rhumbline Advisers now owns 284,122 shares of the biopharmaceutical company's stock worth $3,830,000 after acquiring an additional 27,123 shares during the period. Bank of New York Mellon Corp raised its stake in Immunomedics by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 873,148 shares of the biopharmaceutical company's stock valued at $11,770,000 after purchasing an additional 22,040 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Immunomedics in the 1st quarter valued at $1,749,000. Institutional investors and hedge funds own 88.89% 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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