Immunomedics, Inc. (NASDAQ:IMMU) gapped up before the market opened on Friday . The stock had previously closed at $22.01, but opened at $22.70. Immunomedics shares last traded at $23.95, with a volume of 3408071 shares trading hands.
A number of equities research analysts recently weighed in on IMMU shares. BidaskClub upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. TheStreet cut shares of Immunomedics from a “c-” rating to a “d+” rating in a research note on Tuesday, September 11th. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Piper Jaffray Companies started coverage on shares of Immunomedics in a research note on Thursday. They set a “buy” rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $38.00.
The company has a current ratio of 14.83, a quick ratio of 14.83 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.18 billion, a P/E ratio of -23.25 and a beta of 1.84.
Institutional investors have recently modified their holdings of the business. First Allied Advisory Services Inc. bought a new stake in Immunomedics in the second quarter worth about $205,000. Jasper Ridge Partners L.P. bought a new stake in Immunomedics in the second quarter worth about $259,000. Xact Kapitalforvaltning AB raised its position in Immunomedics by 54.5% in the first quarter. Xact Kapitalforvaltning AB now owns 18,418 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 6,500 shares in the last quarter. Trexquant Investment LP bought a new stake in Immunomedics in the second quarter worth about $298,000. Finally, Cubist Systematic Strategies LLC raised its position in Immunomedics by 831.8% in the first quarter. Cubist Systematic Strategies LLC now owns 20,657 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 18,440 shares in the last quarter. Hedge funds and other institutional investors own 78.23% of the company’s stock.
Immunomedics Company Profile (NASDAQ:IMMU)
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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