Cantor Fitzgerald began coverage on shares of Immunomedics (NASDAQ:IMMU) in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $28.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Immunomedics’ FY2019 earnings at ($1.70) EPS and FY2020 earnings at ($1.64) EPS.
A number of other equities research analysts have also recently weighed in on the company. ValuEngine raised Immunomedics from a buy rating to a strong-buy rating in a report on Thursday, August 1st. HC Wainwright reaffirmed a buy rating and set a $26.00 price target (down from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. Zacks Investment Research raised Immunomedics from a sell rating to a hold rating in a report on Tuesday, July 16th. BidaskClub raised Immunomedics from a sell rating to a hold rating in a report on Friday, June 28th. Finally, Cowen set a $30.00 price target on Immunomedics and gave the company a buy rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $28.25.
IMMU stock opened at $13.62 on Monday. The business has a fifty day moving average price of $14.70 and a 200 day moving average price of $15.32. Immunomedics has a fifty-two week low of $11.55 and a fifty-two week high of $26.99. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -13.22 and a beta of 1.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.93 and a quick ratio of 9.93.
In other news, insider Bryan Ball bought 5,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was 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 of the company’s stock, valued at $66,750. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Avoro Capital Advisors Llc bought 400,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was purchased 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. Insiders bought a total of 3,726,078 shares of company stock valued at $47,241,402 over the last three months. Insiders own 9.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMMU. FMR LLC increased 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 buying an additional 14,632,374 shares during the period. Boxer Capital LLC grew its stake in shares of Immunomedics by 60.2% during the second quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock worth $91,084,000 after purchasing an additional 2,467,000 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Immunomedics during the first quarter worth $44,379,000. Fiera Capital Corp acquired a new stake in shares of Immunomedics during the first quarter worth $39,804,000. Finally, BlackRock Inc. grew its stake in shares of Immunomedics by 9.9% during the second quarter. BlackRock Inc. now owns 13,798,803 shares of the biopharmaceutical company’s stock worth $191,389,000 after purchasing an additional 1,239,462 shares during the period. 86.84% of the stock is owned by institutional investors.
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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