Immunomedics (IMMU) Stock Rating Upgraded by Zacks Investment Research

Immunomedics (NASDAQ:IMMU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “

A number of other equities analysts also recently commented on IMMU. BidaskClub raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Cowen reaffirmed a “buy” rating and set a $30.00 target price on shares of Immunomedics in a research note on Friday, December 7th. Piper Jaffray Companies reissued a “buy” rating on shares of Immunomedics in a research note on Thursday, December 20th. Jefferies Financial Group set a $30.00 price target on shares of Immunomedics and gave the company a “buy” rating in a research note on Sunday, December 23rd. Finally, B. Riley began coverage on shares of Immunomedics in a research note on Tuesday, January 8th. They issued a “buy” rating and a $55.00 price target on the stock. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.00.

Shares of IMMU stock opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.45 and a quick ratio of 13.45. Immunomedics has a 12 month low of $11.55 and a 12 month high of $27.33.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Immunomedics by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 48,707 shares of the biopharmaceutical company’s stock valued at $1,014,000 after acquiring an additional 1,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Immunomedics by 16.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 1,140 shares during the period. Strs Ohio raised its stake in shares of Immunomedics by 3.0% in the 4th quarter. Strs Ohio now owns 76,651 shares of the biopharmaceutical company’s stock valued at $1,093,000 after acquiring an additional 2,200 shares during the period. Exane Derivatives purchased a new stake in shares of Immunomedics in the 4th quarter valued at approximately $32,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Immunomedics in the 4th quarter valued at approximately $33,000. 84.63% of the stock is currently owned by institutional investors and hedge funds.

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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