Immunomedics (IMMU) Now Covered by Jefferies Financial Group

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Research analysts at Jefferies Financial Group started coverage on shares of Immunomedics (NASDAQ:IMMU) in a research note issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $30.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 39.76% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. BidaskClub cut shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 26th. B. Riley boosted their price target on shares of Immunomedics from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 24th. TheStreet cut shares of Immunomedics from a “c-” rating to a “d+” rating in a research report on Tuesday, September 11th. Finally, Goldman Sachs Group started coverage on shares of Immunomedics in a research report on Monday, September 17th. They set a “buy” rating and a $36.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.43.

Shares of NASDAQ:IMMU traded down $0.55 during midday trading on Thursday, hitting $21.47. 2,299,140 shares of the stock traded hands, compared to its average volume of 1,905,613. The company has a market cap of $4.61 billion, a price-to-earnings ratio of -20.84 and a beta of 1.93. The company has a current ratio of 14.83, a quick ratio of 14.83 and a debt-to-equity ratio of 0.05. Immunomedics has a one year low of $8.68 and a one year high of $27.33.

Immunomedics (NASDAQ:IMMU) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative net margin of 12,701.21% and a negative return on equity of 108.80%. During the same quarter in the prior year, the company earned ($0.97) EPS. As a group, research analysts forecast that Immunomedics will post -1.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. First Allied Advisory Services Inc. purchased a new stake in Immunomedics in the second quarter worth about $205,000. Jasper Ridge Partners L.P. purchased a new stake in Immunomedics in the second quarter worth about $259,000. Trexquant Investment LP purchased a new stake in Immunomedics in the second quarter worth about $298,000. Parametrica Management Ltd purchased a new stake in Immunomedics in the third quarter worth about $281,000. Finally, Signet Financial Management LLC grew its holdings in Immunomedics by 2,287.5% in the second quarter. Signet Financial Management LLC now owns 14,086 shares of the biopharmaceutical company’s stock worth $333,000 after purchasing an additional 13,496 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

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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Analyst Recommendations for Immunomedics (NASDAQ:IMMU)

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