Immunomedics, Inc. (IMMU) Hits New 1-Year High at $9.54
Immunomedics, Inc. (NASDAQ:IMMU) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.54 and last traded at $9.56, with a volume of 3,747,657 shares trading hands. The stock had previously closed at $9.01.
A number of research analysts have issued reports on IMMU shares. ValuEngine upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Immunomedics from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC set a $9.00 target price on shares of Immunomedics and gave the company a “buy” rating in a report on Saturday, June 10th. Cowen and Company started coverage on shares of Immunomedics in a report on Friday, May 26th. They issued an “outperform” rating on the stock. Finally, BidaskClub lowered shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Immunomedics currently has an average rating of “Buy” and an average target price of $12.00.
The stock’s market cap is $1.05 billion. The stock’s 50-day moving average price is $8.50 and its 200-day moving average price is $6.98.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.13. The business had revenue of $0.64 million during the quarter, compared to analysts’ expectations of $0.75 million. During the same period in the previous year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was down 31.2% on a year-over-year basis. Equities research analysts predict that Immunomedics, Inc. will post ($0.55) earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. Atlantic Trust Group LLC purchased a new stake in shares of Immunomedics during the first quarter valued at about $599,000. NEXT Financial Group Inc raised its stake in shares of Immunomedics by 71.8% in the first quarter. NEXT Financial Group Inc now owns 108,250 shares of the biopharmaceutical company’s stock valued at $620,000 after buying an additional 45,250 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Immunomedics by 49.6% in the first quarter. Parametric Portfolio Associates LLC now owns 167,077 shares of the biopharmaceutical company’s stock valued at $1,081,000 after buying an additional 55,392 shares in the last quarter. TD Asset Management Inc. purchased a new stake in shares of Immunomedics during the first quarter valued at about $855,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Immunomedics by 361.2% in the first quarter. UBS Asset Management Americas Inc. now owns 67,301 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 52,709 shares in the last quarter. Hedge funds and other institutional investors own 63.39% of the company’s stock.
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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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