Immunomedics (NASDAQ:IMMU) has been given a $30.00 price objective by investment analysts at Cowen in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cowen’s price objective would indicate a potential upside of 81.38% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Immunomedics in a research report on Monday, August 19th. They issued an “overweight” rating and a $28.00 price objective for the company. ValuEngine raised shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group set a $22.00 target price on shares of Immunomedics and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating and issued a $26.00 target price (down from $28.00) on shares of Immunomedics in a research note on Thursday, August 8th. Finally, Piper Jaffray Companies set a $20.00 price target on shares of Immunomedics and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.33.
Shares of IMMU stock traded up $0.95 during trading hours on Tuesday, reaching $16.54. The company had a trading volume of 4,431,161 shares, compared to its average volume of 2,730,737. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. Immunomedics has a twelve month low of $11.55 and a twelve month high of $24.99. The company has a market capitalization of $2.55 billion, a P/E ratio of -16.06 and a beta of 2.06. The stock’s fifty day simple moving average is $14.19 and its 200 day simple moving average is $15.22.
In related news, insider Bryan Ball acquired 5,000 shares of Immunomedics stock in a transaction 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 of the company’s stock, valued at approximately $66,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of Immunomedics stock in a transaction on Friday, June 28th. The shares were bought 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. Insiders have acquired a total of 1,405,000 shares of company stock worth $18,916,750 over the last 90 days. 9.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC raised its stake in shares of Immunomedics by 215.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,305 shares in the last quarter. Cornerstone Advisors Inc. bought a new position in shares of Immunomedics during the first quarter worth about $40,000. Steward Partners Investment Advisory LLC bought a new position in shares of Immunomedics during the second quarter worth about $49,000. Coastal Investment Advisors Inc. lifted its position in shares of Immunomedics by 23.5% during the second quarter. Coastal Investment Advisors Inc. now owns 4,200 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 800 shares during the last quarter. Finally, US Bancorp DE grew its stake in Immunomedics by 56.0% in the second quarter. US Bancorp DE now owns 6,749 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 2,423 shares in the last quarter. 88.59% of the stock is owned by institutional investors.
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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