Immunomedics (NASDAQ:IMMU) Given a $20.00 Price Target by Piper Jaffray Companies Analysts
Piper Jaffray Companies set a $20.00 price objective on Immunomedics (NASDAQ:IMMU) in a report published on Tuesday, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also commented on IMMU. Jefferies Financial Group set a $22.00 price target on shares of Immunomedics and gave the stock a buy rating in a research note on Tuesday. Zacks Investment Research raised shares of Immunomedics from a sell rating to a hold rating in a research note on Tuesday, July 16th. Cantor Fitzgerald started coverage on shares of Immunomedics in a report on Monday, August 19th. They issued an overweight rating and a $28.00 price objective for the company. HC Wainwright reissued a buy rating and set a $26.00 target price (down from $28.00) on shares of Immunomedics in a research report on Thursday, August 8th. Finally, BidaskClub lowered Immunomedics from a hold rating to a sell rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $28.33.
Shares of NASDAQ IMMU traded up $0.95 during trading hours on Tuesday, hitting $16.54. The stock had a trading volume of 4,431,161 shares, compared to its average volume of 2,730,737. The company has a market capitalization of $2.55 billion, a P/E ratio of -16.06 and a beta of 2.06. The firm’s 50-day moving average price is $14.19 and its two-hundred day moving average price is $15.22. Immunomedics has a 52 week low of $11.55 and a 52 week high of $24.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93.
In other Immunomedics news, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $13.55 per share, for a total transaction of $13,550,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Ball acquired 5,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the completion of the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $66,750. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,405,000 shares of company stock valued at $18,916,750. 9.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY lifted its holdings in shares of Immunomedics by 3.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 48,110 shares of the biopharmaceutical company’s stock worth $924,000 after buying an additional 1,757 shares during the last quarter. BB&T Securities LLC grew its holdings in shares of Immunomedics by 78.4% during the second quarter. BB&T Securities LLC now owns 22,750 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 10,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Immunomedics by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 490,343 shares of the biopharmaceutical company’s stock worth $6,790,000 after buying an additional 21,135 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Immunomedics by 21.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 1,241,351 shares of the biopharmaceutical company’s stock valued at $23,846,000 after buying an additional 223,350 shares during the last quarter. Finally, C WorldWide Group Holding A S bought a new stake in Immunomedics in the 2nd quarter valued at approximately $6,103,000. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
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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