Immunomedics (IMMU) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research downgraded shares of Immunomedics (NASDAQ:IMMU) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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 research firms have also recently commented on IMMU. BidaskClub cut Immunomedics from a buy rating to a hold rating in a research report on Wednesday, February 13th. HC Wainwright set a $28.00 price objective on Immunomedics and gave the stock a buy rating in a research report on Tuesday, April 2nd. ValuEngine downgraded Immunomedics from a strong-buy rating to a buy rating in a research report on Wednesday, April 24th. Cowen restated a buy rating and set a $30.00 price objective on shares of Immunomedics in a research report on Friday, January 18th. Finally, Jefferies Financial Group set a $21.00 price objective on Immunomedics and gave the stock a buy rating in a research report on Friday, January 18th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $28.55.

Shares of IMMU traded down $0.13 during trading hours on Tuesday, hitting $14.77. The company had a trading volume of 24,611 shares, compared to its average volume of 3,054,520. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -14.34 and a beta of 1.97. The company has a current ratio of 13.45, a quick ratio of 13.45 and a debt-to-equity ratio of 0.06. Immunomedics has a one year low of $11.55 and a one year high of $27.33.

Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Monday, February 25th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.16). On average, equities research analysts forecast that Immunomedics will post -1.38 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of IMMU. North Star Investment Management Corp. bought a new position in shares of Immunomedics in the fourth quarter worth about $50,000. Man Group plc grew its position in Immunomedics by 69.4% in the third quarter. Man Group plc now owns 203,230 shares of the biopharmaceutical company’s stock worth $4,233,000 after acquiring an additional 83,230 shares during the period. Pacer Advisors Inc. purchased a new position in Immunomedics in the third quarter worth approximately $228,000. Strs Ohio grew its position in Immunomedics by 3.0% in the fourth quarter. Strs Ohio now owns 76,651 shares of the biopharmaceutical company’s stock worth $1,093,000 after acquiring an additional 2,200 shares during the period. Finally, Rhumbline Advisers grew its position in Immunomedics by 49.5% in the fourth quarter. Rhumbline Advisers now owns 195,374 shares of the biopharmaceutical company’s stock worth $2,788,000 after acquiring an additional 64,659 shares during the period. Institutional investors own 85.29% 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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