Immunomedics, Inc. (NASDAQ:IMMU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “

IMMU has been the subject of several other reports. Cowen and Company reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Immunomedics in a report on Monday, July 24th. Wells Fargo & Company raised Immunomedics from a “market perform” rating to an “outperform” rating in a report on Friday, May 5th. BidaskClub lowered Immunomedics from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Immunomedics in a report on Friday, July 14th. Finally, ValuEngine raised Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Immunomedics presently has an average rating of “Buy” and a consensus target price of $12.00.

Shares of Immunomedics (NASDAQ:IMMU) traded down 5.61% on Thursday, hitting $7.74. The stock had a trading volume of 1,784,407 shares. The company has a 50-day moving average of $8.62 and a 200 day moving average of $6.76. The company’s market capitalization is $848.33 million. Immunomedics has a 52 week low of $2.02 and a 52 week high of $9.51.

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A number of institutional investors have recently made changes to their positions in IMMU. TIAA CREF Investment Management LLC raised its position in shares of Immunomedics by 5.4% in the second quarter. TIAA CREF Investment Management LLC now owns 280,047 shares of the biopharmaceutical company’s stock valued at $2,473,000 after buying an additional 14,261 shares during the period. Stephens Inc. AR purchased a new position in shares of Immunomedics during the second quarter valued at $115,000. Alliancebernstein L.P. raised its position in shares of Immunomedics by 2.4% in the second quarter. Alliancebernstein L.P. now owns 178,198 shares of the biopharmaceutical company’s stock valued at $1,573,000 after buying an additional 4,200 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Immunomedics during the second quarter valued at $421,000. Finally, Geneva Advisors LLC raised its position in shares of Immunomedics by 0.6% in the second quarter. Geneva Advisors LLC now owns 31,635 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 200 shares during the period. 62.10% of the stock is owned by institutional investors and hedge funds.

Immunomedics Company Profile

Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.

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