Today: The Jefferies Group Initiates Coverage on Immunomedics Inc. (IMMU)

The Jefferies Group Initiates Coverage on Immunomedics Inc. (IMMU)

Equities researchers at Jefferies Group assumed coverage on shares of Immunomedics Inc. (NASDAQ:IMMU) in a research note issued on Thursday. The brokerage set a “buy” rating and a $5.50 price target on the biopharmaceutical company’s stock. Jefferies Group’s price target would suggest a potential upside of 113.18% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Immunomedics from a “hold” rating to a “strong sell” rating in a research note on Monday, August 22nd. Wells Fargo & Co. downgraded shares of Immunomedics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 21st.

Shares of Immunomedics (NASDAQ:IMMU) opened at 2.58 on Thursday. The stock has a 50 day moving average of $2.98 and a 200 day moving average of $3.03. Immunomedics has a 52-week low of $1.61 and a 52-week high of $5.44. The stock’s market capitalization is $247.33 million.

Immunomedics (NASDAQ:IMMU) last released its earnings results on Wednesday, August 17th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.06. Analysts forecast that Immunomedics will post ($0.47) earnings per share for the current year.

In other Immunomedics news, Director Don C. Stark sold 9,900 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $2.97, for a total transaction of $29,403.00. Following the transaction, the director now owns 55,848 shares in the company, valued at $165,868.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary E. Paetzold sold 15,000 shares of the business’s 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 transaction, the director now owns 82,474 shares in the company, valued at approximately $245,772.52. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iguana Healthcare Management LLC purchased a new position in Immunomedics during the second quarter worth $522,000. Cubist Systematic Strategies LLC purchased a new position in Immunomedics during the second quarter worth $161,000. Panagora Asset Management Inc. boosted its position in Immunomedics by 12.1% in the second quarter. Panagora Asset Management Inc. now owns 980,444 shares of the biopharmaceutical company’s stock worth $2,275,000 after buying an additional 105,690 shares during the period. State Street Corp boosted its position in 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 during the period. Finally, Rhumbline Advisers boosted its position in Immunomedics by 13.0% in the second quarter. Rhumbline Advisers now owns 115,948 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 13,313 shares during the period. Institutional investors and hedge funds own 53.79% of the company’s stock.

Immunomedics Company Profile

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