Jefferies Group began coverage on shares of Immunomedics Inc. (NASDAQ:IMMU) in a research note published on Thursday. The brokerage issued a buy rating and a $5.50 price target on the biopharmaceutical company’s stock.
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Immunomedics from a hold rating to a strong sell rating in a research report on Monday, August 22nd. Wells Fargo & Co. lowered Immunomedics from an outperform rating to a market perform rating in a research report on Tuesday, June 21st.
Immunomedics (NASDAQ:IMMU) opened at 2.50 on Thursday. Immunomedics has a 52-week low of $1.61 and a 52-week high of $5.44. The firm’s market capitalization is $239.66 million. The stock’s 50 day moving average price is $2.96 and its 200 day moving average price is $3.04.
Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.06. On average, analysts predict that Immunomedics will post ($0.47) EPS for the current fiscal year.
In related news, Director Mary E. Paetzold sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $2.98, for a total transaction of $44,700.00. Following the completion of the transaction, the director now directly owns 82,474 shares of the company’s stock, valued at approximately $245,772.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Don C. Stark sold 9,900 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $2.97, for a total value of $29,403.00. Following the transaction, the director now directly owns 55,848 shares of the company’s stock, valued at $165,868.56. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IMMU. Iguana Healthcare Management LLC acquired a new position in Immunomedics during the second quarter valued at $522,000. Cubist Systematic Strategies LLC acquired a new position in Immunomedics during the second quarter valued at $161,000. Panagora Asset Management Inc. raised its position in Immunomedics by 12.1% in the second quarter. Panagora Asset Management Inc. now owns 980,444 shares of the biopharmaceutical company’s stock valued at $2,275,000 after buying an additional 105,690 shares during the period. State Street Corp raised its position in Immunomedics by 63.3% in the second quarter. State Street Corp now owns 2,354,732 shares of the biopharmaceutical company’s stock valued at $5,463,000 after buying an additional 912,372 shares during the period. Finally, Rhumbline Advisers raised its position in Immunomedics by 13.0% in the second quarter. Rhumbline Advisers now owns 115,948 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 13,313 shares during the period. 53.79% of the stock is owned by institutional investors and hedge funds.
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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