Immunomedics, Inc. (NASDAQ:IMMU) – Equities researchers at Jefferies Group cut their Q1 2018 earnings estimates for Immunomedics in a report released on Tuesday. Jefferies Group analyst M. Andrews now expects that the biopharmaceutical company will post earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.10). Jefferies Group has a “Buy” rating and a $14.00 price objective on the stock. Jefferies Group also issued estimates for Immunomedics’ FY2019 earnings at ($0.77) EPS, FY2020 earnings at ($0.55) EPS, FY2021 earnings at $0.08 EPS and FY2022 earnings at $0.76 EPS.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.75 million. The business’s revenue for the quarter was down 31.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) earnings per share.

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Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, July 11th. ValuEngine raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $15.00 target price on shares of Immunomedics in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $13.00.

Shares of Immunomedics (NASDAQ IMMU) opened at 11.45 on Thursday. The stock has a 50 day moving average of $10.09 and a 200-day moving average of $7.94. Immunomedics has a 1-year low of $2.02 and a 1-year high of $12.96. The stock’s market capitalization is $1.27 billion.

Hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC acquired a new position in Immunomedics during the first quarter valued at approximately $1,941,000. Knott David M acquired a new position in Immunomedics during the first quarter valued at approximately $294,000. TD Asset Management Inc. lifted its position in Immunomedics by 13.8% during the second quarter. TD Asset Management Inc. now owns 150,400 shares of the biopharmaceutical company’s stock valued at $1,328,000 after buying an additional 18,200 shares in the last quarter. Jennison Associates LLC acquired a new position in Immunomedics during the second quarter valued at approximately $9,581,000. Finally, Creative Planning lifted its position in Immunomedics by 1.7% during the second quarter. Creative Planning now owns 179,130 shares of the biopharmaceutical company’s stock valued at $1,582,000 after buying an additional 3,065 shares in the last quarter. 77.99% of the stock is currently owned by hedge funds and other institutional investors.

In other Immunomedics news, Director Cynthia L. Goldenberg sold 40,000 shares of Immunomedics stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $9.24, for a total transaction of $369,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David M. Goldenberg sold 20,000 shares of Immunomedics stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $1,051,200. 6.60% of the stock is currently owned by corporate insiders.

About Immunomedics

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.

Earnings History and Estimates for Immunomedics (NASDAQ:IMMU)

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