BidaskClub Lowers Immunomedics (NASDAQ:IMMU) to Hold

BidaskClub downgraded shares of Immunomedics (NASDAQ:IMMU) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

IMMU has been the topic of several other research reports. Barclays began coverage on Immunomedics in a report on Monday, May 4th. They set an overweight rating and a $40.00 price objective on the stock. Morgan Stanley boosted their price objective on Immunomedics from $32.00 to $40.00 and gave the stock an equal weight rating in a report on Monday. HC Wainwright restated a buy rating and set a $56.00 price objective on shares of Immunomedics in a report on Thursday, August 6th. ValuEngine upgraded Immunomedics from a hold rating to a buy rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group boosted their price objective on Immunomedics from $41.00 to $55.00 and gave the stock a buy rating in a report on Monday, July 27th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $42.07.

NASDAQ IMMU traded down $0.68 on Tuesday, reaching $39.98. The company’s stock had a trading volume of 22,958 shares, compared to its average volume of 3,527,245. Immunomedics has a twelve month low of $8.80 and a twelve month high of $44.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.37 and a current ratio of 8.37. The stock has a market cap of $9.40 billion, a PE ratio of -23.34 and a beta of 3.41. The firm’s 50 day moving average is $40.59 and its two-hundred day moving average is $27.37.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.39). Equities research analysts anticipate that Immunomedics will post -1.22 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in IMMU. Eudaimonia Partners LLC acquired a new position in Immunomedics in the first quarter worth approximately $29,000. Windsor Creek Advisors LLC acquired a new position in Immunomedics in the first quarter worth approximately $40,000. Pathstone Family Office LLC acquired a new position in Immunomedics in the first quarter worth approximately $40,000. Verus Capital Partners LLC acquired a new position in Immunomedics in the first quarter worth approximately $54,000. Finally, Synovus Financial Corp acquired a new position in Immunomedics in the first quarter worth approximately $62,000. Hedge funds and other institutional investors own 76.58% 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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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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