Cowen set a $30.00 price target on Immunomedics (NASDAQ:IMMU) in a research note published on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other brokerages have also recently issued reports on IMMU. ValuEngine upgraded Immunomedics from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Jefferies Financial Group set a $22.00 target price on Immunomedics and gave the stock a buy rating in a report on Tuesday. HC Wainwright reiterated a buy rating and issued a $26.00 target price (down from $28.00) on shares of Immunomedics in a report on Thursday, August 8th. Zacks Investment Research upgraded Immunomedics from a sell rating to a hold rating in a report on Tuesday, July 16th. Finally, BidaskClub cut Immunomedics from a hold rating to a sell rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Immunomedics currently has an average rating of Buy and an average target price of $28.33.
Shares of IMMU stock traded up $0.28 during trading hours on Tuesday, hitting $16.00. 9,034 shares of the company were exchanged, compared to its average volume of 1,934,543. The firm has a market cap of $3.10 billion, a P/E ratio of -15.70 and a beta of 2.06. Immunomedics has a fifty-two week low of $11.55 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. The company has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $15.22.
In related news, Director Avoro Capital Advisors Llc acquired 400,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average cost of $13.25 per share, for a total transaction of $5,300,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bryan Ball acquired 5,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were bought at an average price of $13.35 per share, for a total transaction of $66,750.00. Following the completion of the purchase, the insider now owns 5,000 shares in the company, valued at approximately $66,750. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,405,000 shares of company stock worth $18,916,750. Company insiders own 9.40% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Atria Investments LLC bought a new position in Immunomedics during the 2nd quarter valued at $1,275,000. United Services Automobile Association lifted its stake in Immunomedics by 135.6% during the 2nd quarter. United Services Automobile Association now owns 317,992 shares of the biopharmaceutical company’s stock valued at $4,411,000 after acquiring an additional 183,041 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Immunomedics during the 2nd quarter valued at $2,810,000. Boxer Capital LLC lifted its stake in Immunomedics by 60.2% during the 2nd quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock valued at $91,084,000 after acquiring an additional 2,467,000 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Immunomedics during the 2nd quarter valued at $2,215,000. Institutional investors and hedge funds own 88.59% of the company’s stock.
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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