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 research report sent to investors on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. HC Wainwright reaffirmed 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. Cantor Fitzgerald began coverage on Immunomedics in a research report on Monday, August 19th. They set an overweight rating and a $28.00 target price for the company. ValuEngine raised Immunomedics from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Cowen set a $30.00 target price on Immunomedics and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, BidaskClub lowered Immunomedics from a hold rating to a sell rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $28.33.

NASDAQ IMMU traded up $0.28 on Tuesday, reaching $16.00. 9,034 shares of the stock traded hands, compared to its average volume of 1,934,543. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. The company has a fifty day moving average price of $14.19 and a 200-day moving average price of $15.22. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -15.70 and a beta of 2.06. Immunomedics has a 12 month low of $11.55 and a 12 month high of $24.99.

Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the company earned ($0.68) earnings per share. As a group, research analysts anticipate that Immunomedics will post -1.61 earnings per share for the current fiscal year.

In other Immunomedics news, insider Bryan Ball bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $66,750.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at $66,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Avoro Capital Advisors Llc bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $13.55 per share, for a total transaction of $13,550,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,405,000 shares of company stock valued at $18,916,750. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. grew its stake in Immunomedics by 23.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 800 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Immunomedics by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 43,041 shares of the biopharmaceutical company’s stock worth $597,000 after buying an additional 1,127 shares during the last quarter. Global Retirement Partners LLC grew its stake in Immunomedics by 215.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,305 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in Immunomedics by 3.8% during the 1st 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. Finally, Cornerstone Advisors Inc. purchased a new position in Immunomedics during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 88.59% 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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