Immunomedics Inc. (NASDAQ:IMMU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Immunomedics Inc. is a New Jersey-based biopharmaceutical company focused on the development of monoclonal, antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. They have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents. Using these technologies, the company have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. They have recently licensed its lead product candidate, epratuzumab, to UCB, S.A. for the treatment of all autoimmune disease indications worldwide. “
A number of other equities analysts have also commented on IMMU. Jefferies Group began coverage on shares of Immunomedics in a report on Thursday. They set a “buy” rating and a $5.50 price target on the stock. Wells Fargo & Co. lowered shares of Immunomedics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 21st.
Immunomedics (NASDAQ:IMMU) traded down 1.15% during mid-day trading on Friday, hitting $2.58. 2,720,997 shares of the company were exchanged. The company’s market capitalization is $247.33 million. Immunomedics has a 12-month low of $1.61 and a 12-month high of $5.44. The company’s 50-day moving average is $2.98 and its 200 day moving average is $3.03.
Immunomedics (NASDAQ:IMMU) last issued its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.06. Analysts expect that Immunomedics will post ($0.47) EPS for the current year.
In related news, Director Mary E. Paetzold sold 15,000 shares of Immunomedics stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $2.98, for a total transaction of $44,700.00. Following the completion of the transaction, the director now owns 82,474 shares of the company’s stock, valued at $245,772.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Don C. Stark sold 9,900 shares of Immunomedics stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $2.97, for a total transaction of $29,403.00. Following the transaction, the director now directly owns 55,848 shares of the company’s stock, valued at approximately $165,868.56. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in IMMU. Vanguard Group Inc. increased its position in shares of Immunomedics by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,677,769 shares of the biopharmaceutical company’s stock worth $8,533,000 after buying an additional 69,890 shares in the last quarter. Sabby Management LLC purchased a new position in shares of Immunomedics during the first quarter worth $182,240,000. State Street Corp increased its position in shares of Immunomedics by 63.3% in the second quarter. State Street Corp now owns 2,354,732 shares of the biopharmaceutical company’s stock worth $5,463,000 after buying an additional 912,372 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Immunomedics by 356.9% in the first quarter. Opaleye Management Inc. now owns 1,325,000 shares of the biopharmaceutical company’s stock worth $3,313,000 after buying an additional 1,035,000 shares in the last quarter. Finally, venBio Select Advisor LLC purchased a new position in shares of Immunomedics during the first quarter worth $2,626,000. 53.79% of the stock is owned by institutional investors and hedge funds.
Immunomedics, Inc is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.