Equities Analysts Set Expectations for Immunomedics, Inc.’s FY2019 Earnings (NASDAQ:IMMU)

Equities Analysts Set Expectations for Immunomedics, Inc.’s FY2019 Earnings (NASDAQ:IMMU)

Immunomedics, Inc. (NASDAQ:IMMU) – Analysts at Cantor Fitzgerald issued their FY2019 EPS estimates for shares of Immunomedics in a research report issued on Tuesday, August 20th, Zacks Investment Research reports. Cantor Fitzgerald analyst V. Kumar expects that the biopharmaceutical company will post earnings of ($1.70) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $28.00 target price on the stock. Cantor Fitzgerald also issued estimates for Immunomedics’ FY2020 earnings at ($1.64) EPS.

Immunomedics (NASDAQ:IMMU) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.09). During the same quarter last year, the business posted ($0.68) EPS.

Other analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $26.00 price objective (down from $28.00) on shares of Immunomedics in a research note on Thursday, August 8th. ValuEngine upgraded shares of Immunomedics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Cowen set a $30.00 target price on shares of Immunomedics and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, BidaskClub cut shares of Immunomedics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Immunomedics presently has a consensus rating of “Buy” and an average price target of $28.25.

Shares of NASDAQ IMMU opened at $13.19 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.93 and a current ratio of 9.93. Immunomedics has a 12 month low of $11.55 and a 12 month high of $25.24. The company has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $15.22.

In other Immunomedics news, insider Avoro Capital Advisors Llc bought 1,000,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $13.55 per share, with a total value of $13,550,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Ball bought 5,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $13.35 per share, with a total value of $66,750.00. Following the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at $66,750. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,405,000 shares of company stock valued at $18,916,750. 9.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Immunomedics by 19.7% in the 4th quarter. Legal & General Group Plc now owns 58,300 shares of the biopharmaceutical company’s stock worth $832,000 after buying an additional 9,593 shares during the last quarter. Norges Bank purchased a new position in Immunomedics in the fourth quarter valued at approximately $16,141,000. Geode Capital Management LLC lifted its stake in Immunomedics by 13.3% in the fourth quarter. Geode Capital Management LLC now owns 1,870,567 shares of the biopharmaceutical company’s stock valued at $26,692,000 after purchasing an additional 219,461 shares during the last quarter. Brinker Capital Inc. purchased a new position in Immunomedics in the first quarter valued at approximately $949,000. Finally, Exane Derivatives lifted its stake in Immunomedics by 167.1% in the first quarter. Exane Derivatives now owns 5,999 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 3,753 shares during the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

Immunomedics Company Profile

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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