Immunomedics (IMMU) Given New $44.00 Price Target at Wells Fargo & Co

Immunomedics (NASDAQ:IMMU) had its price objective hoisted by Wells Fargo & Co from $31.00 to $44.00 in a report released on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on the company. BidaskClub downgraded Immunomedics from a hold rating to a sell rating in a report on Saturday, September 15th. TheStreet downgraded Immunomedics from a c- rating to a d+ rating in a report on Tuesday, September 11th. Zacks Investment Research downgraded Immunomedics from a hold rating to a sell rating in a report on Thursday, July 12th. Guggenheim began coverage on Immunomedics in a report on Tuesday, September 18th. They issued a buy rating and a $33.00 price target for the company. Finally, B. Riley increased their price target on Immunomedics from $53.00 to $55.00 and gave the company a buy rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $39.00.

Shares of IMMU stock traded up $0.35 on Wednesday, reaching $22.70. 20,687 shares of the stock were exchanged, compared to its average volume of 2,145,444. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -22.01 and a beta of 1.85. The company has a quick ratio of 14.83, a current ratio of 14.83 and a debt-to-equity ratio of 0.05. Immunomedics has a 1-year low of $8.68 and a 1-year high of $27.33.

Immunomedics (NASDAQ:IMMU) last released its quarterly earnings data on Thursday, August 23rd. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $4.27 million. Immunomedics had a negative return on equity of 124.54% and a negative net margin of 12,701.21%. The company’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.48) earnings per share. As a group, analysts expect that Immunomedics will post -1.09 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. RA Capital Management LLC purchased a new position in Immunomedics in the 2nd quarter valued at about $73,845,000. Menora Mivtachim Holdings LTD. purchased a new position in Immunomedics in the 2nd quarter valued at about $12,069,000. TD Asset Management Inc. boosted its position in Immunomedics by 25.9% in the 2nd quarter. TD Asset Management Inc. now owns 215,088 shares of the biopharmaceutical company’s stock valued at $5,091,000 after buying an additional 44,288 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Immunomedics by 17.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 705,730 shares of the biopharmaceutical company’s stock valued at $16,705,000 after buying an additional 104,742 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Immunomedics by 4,518.2% in the 1st quarter. Royal Bank of Canada now owns 156,326 shares of the biopharmaceutical company’s stock valued at $2,284,000 after buying an additional 152,941 shares during the last quarter. 78.25% of the stock is owned by institutional investors.

Immunomedics Company Profile

Immunomedics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders, and other diseases. The company engages in developing antibody-drug conjugate (ADC) products comprising IMMU-132, an ADC that contains SN-38, which is in Phase II trials used for the treatment of patients with metastatic triple-negative breast cancer, and small-cell and non-small-cell lung cancers; IMMU-130, an anti-CEACAN5-SN-38 ADC that is in Phase II trials for the treatment of solid tumors and metastatic colorectal cancer; and IMMU-140 that targets HLA-DR for the potential treatment of liquid cancers.

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