B. Riley Wealth Management Inc. purchased a new position in shares of Immunomedics, Inc. (NASDAQ:IMMU) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,614 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.
Several other large investors also recently bought and sold shares of IMMU. First Allied Advisory Services Inc. purchased a new stake in shares of Immunomedics in the 2nd quarter worth about $205,000. Jasper Ridge Partners L.P. purchased a new position in Immunomedics in the 2nd quarter valued at about $259,000. Pacer Advisors Inc. purchased a new position in Immunomedics in the 3rd quarter valued at about $228,000. Gideon Capital Advisors Inc. purchased a new position in Immunomedics in the 3rd quarter valued at about $229,000. Finally, Parametrica Management Ltd purchased a new position in Immunomedics in the 3rd quarter valued at about $281,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.
IMMU traded up $0.53 on Thursday, reaching $17.77. 3,543,200 shares of the company’s stock were exchanged, compared to its average volume of 3,171,128. The company has a market cap of $2.98 billion, a PE ratio of -17.25 and a beta of 2.13. Immunomedics, Inc. has a twelve month low of $12.86 and a twelve month high of $27.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.45 and a current ratio of 13.45.
Immunomedics (NASDAQ:IMMU) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative return on equity of 85.57% and a negative net margin of 12,701.21%. During the same quarter last year, the company posted ($0.97) EPS. On average, sell-side analysts predict that Immunomedics, Inc. will post -1.2 earnings per share for the current year.
A number of research firms have issued reports on IMMU. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub raised shares of Immunomedics from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Immunomedics in a research note on Thursday, December 20th. Jefferies Financial Group set a $30.00 price objective on shares of Immunomedics and gave the company a “buy” rating in a research note on Sunday, December 23rd. Finally, B. Riley started coverage on shares of Immunomedics in a research note on Tuesday. They set a “buy” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Immunomedics has an average rating of “Buy” and an average price target of $37.38.
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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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