Cowen set a $30.00 target price on Immunomedics (NASDAQ:IMMU) in a report released on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Immunomedics from a hold rating to a sell rating in a report on Wednesday, August 28th. Jefferies Financial Group set a $22.00 price target on shares of Immunomedics and gave the company a buy rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Immunomedics from a sell rating to a hold rating in a research note on Tuesday, July 16th. ValuEngine upgraded shares of Immunomedics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald started coverage on shares of Immunomedics in a research note on Monday, August 19th. They issued an overweight rating and a $28.00 price target on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $28.33.
Shares of NASDAQ:IMMU traded up $0.28 on Tuesday, hitting $16.00. The company had a trading volume of 9,034 shares, compared to its average volume of 1,934,543. Immunomedics has a 1-year low of $11.55 and a 1-year high of $24.99. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -15.70 and a beta of 2.06. The stock has a 50 day moving average price of $14.19 and a 200 day moving average price of $15.22. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 0.06.
In other news, insider Bryan Ball acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $13.35 per share, with a total value of $66,750.00. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $66,750. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Avoro Capital Advisors Llc acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $13.55 per share, with a total value of $13,550,000.00. The disclosure for this purchase can be found here. Insiders purchased 1,405,000 shares of company stock worth $18,916,750 over the last 90 days. 9.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Atria Investments LLC bought a new stake in Immunomedics during the second quarter worth about $1,275,000. United Services Automobile Association lifted its holdings in shares of Immunomedics by 135.6% in the second quarter. United Services Automobile Association now owns 317,992 shares of the biopharmaceutical company’s stock worth $4,411,000 after acquiring an additional 183,041 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Immunomedics in the second quarter worth about $2,810,000. Boxer Capital LLC lifted its holdings in shares of Immunomedics by 60.2% in the second quarter. Boxer Capital LLC now owns 6,567,000 shares of the biopharmaceutical company’s stock worth $91,084,000 after acquiring an additional 2,467,000 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Immunomedics in the second quarter worth about $2,215,000. 88.59% of the stock is owned by institutional investors and hedge funds.
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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