Immunomedics (NASDAQ:IMMU) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday, January 5th.
A number of other brokerages have also commented on IMMU. BidaskClub raised shares of Immunomedics from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research raised shares of Immunomedics from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, October 4th. Finally, Jefferies Group increased their price target on shares of Immunomedics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.33.
Immunomedics (IMMU) traded up $0.26 during mid-day trading on Friday, reaching $16.51. 2,267,200 shares of the company’s stock were exchanged, compared to its average volume of 2,976,111. The company has a debt-to-equity ratio of -0.29, a current ratio of 0.74 and a quick ratio of 0.74. Immunomedics has a one year low of $3.83 and a one year high of $17.24. The company has a market capitalization of $2,500.00, a PE ratio of -7.37 and a beta of 1.48.
In other news, Director Brian A. Markison sold 8,390 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $11.89, for a total transaction of $99,757.10. Following the completion of the sale, the director now owns 99,178 shares of the company’s stock, valued at $1,179,226.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Venbio Select Advisor Llc purchased 1,150,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $10.39 per share, for a total transaction of $11,948,500.00. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Iguana Healthcare Management LLC grew its stake in shares of Immunomedics by 5.3% during the third quarter. Iguana Healthcare Management LLC now owns 500,000 shares of the biopharmaceutical company’s stock valued at $6,990,000 after purchasing an additional 25,000 shares during the last quarter. California Public Employees Retirement System boosted its stake in Immunomedics by 33.0% in the third quarter. California Public Employees Retirement System now owns 154,647 shares of the biopharmaceutical company’s stock valued at $2,162,000 after acquiring an additional 38,347 shares during the last quarter. Lyon Street Capital LLC bought a new position in Immunomedics in the third quarter valued at approximately $2,097,000. Nicholas Investment Partners LP bought a new position in Immunomedics in the third quarter valued at approximately $4,673,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Immunomedics by 150.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 468,380 shares of the biopharmaceutical company’s stock valued at $6,548,000 after acquiring an additional 281,032 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.
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Immunomedics Company Profile
Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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