Immunomedics, Inc. (IMMU) Expected to Announce Earnings of -$0.36 Per Share

Wall Street analysts expect Immunomedics, Inc. (NASDAQ:IMMU) to report ($0.36) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Immunomedics’ earnings, with the lowest EPS estimate coming in at ($0.39) and the highest estimate coming in at ($0.31). Immunomedics reported earnings of ($0.14) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 157.1%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, May 9th.

On average, analysts expect that Immunomedics will report full year earnings of ($1.27) per share for the current financial year, with EPS estimates ranging from ($1.53) to ($0.93). For the next financial year, analysts anticipate that the company will post earnings of ($1.56) per share, with EPS estimates ranging from ($2.62) to ($0.99). Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Immunomedics.

Immunomedics (NASDAQ:IMMU) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.10). During the same quarter last year, the company posted ($0.21) earnings per share.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Immunomedics from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. BidaskClub downgraded Immunomedics from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. HC Wainwright set a $28.00 price objective on Immunomedics and gave the company a “buy” rating in a research note on Tuesday, April 2nd. ValuEngine downgraded Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Cowen reiterated a “buy” rating and set a $30.00 price target on shares of Immunomedics in a research note on Friday, January 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $28.55.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Immunomedics by 13.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,084 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 706 shares during the last quarter. Legal & General Group Plc grew its position in Immunomedics by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 48,707 shares of the biopharmaceutical company’s stock worth $1,014,000 after acquiring an additional 1,082 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Immunomedics by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 1,140 shares during the last quarter. JGP Global Gestao de Recursos Ltda. grew its position in Immunomedics by 10.5% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 13,097 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Immunomedics by 215.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,910 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,305 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors.

IMMU stock traded down $0.18 during trading on Thursday, hitting $14.32. The company had a trading volume of 8,114,931 shares, compared to its average volume of 3,116,602. Immunomedics has a one year low of $11.55 and a one year high of $27.33. The stock has a market capitalization of $2.71 billion, a PE ratio of -13.90 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 13.45 and a quick ratio of 13.45.

About Immunomedics

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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Earnings History and Estimates for Immunomedics (NASDAQ:IMMU)

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