Avoro Capital Advisor LLC recently announced the acquisition of new stake in Immunomedics Inc. (NASDAQ:IMMU). The institutional investor has increased its shareholding in the Healthcare company by 7.14% to 26.25 million shares with purchase of 1.75 million shares. This fresh investment now brings its stake to 11.37% valued currently at $1.11 billion. In addition, The Vanguard Group, Inc. raised its holdings by 2.21 million to 18.54 million shares. And Fidelity Management & Research Co.. has lifted its position by 224.71% or 7.66 million shares – to 11.07 million shares.
With over 1.45 million Immunomedics Inc. (IMMU) shares trading Tuesday and a closing price of $44.20 on the day, the dollar volume was approximately $64.09 million. The shares have shown a positive weekly performance of 6.28% and its price on 09/01/20 lost nearly -0.81%. Currently, there are 225.31M common shares owned by the public and among those 204.62M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for IMMU have a consensus price objective of $52.24. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $40.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Immunomedics Inc. stock is 1.80 for the next 12 months. The average price target is 15.39% above its last price level and an upside to the estimated low will see the stock lose -10.5% over that period. But an upside of 26.33% will see the stock hit the forecast high price target while mean target price for the stock is $55.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 5,364,460 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Immunomedics Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Fidelity Select Port. – Biotechno. Vanguard Total Stock Market Index owns 5.91 million shares of the company’s stock, all valued at over $249.78 million. The company sold 3386.0 shares recently to bring their total holdings to about 2.56% of the shares outstanding. Vanguard Small Cap Index Fund sold 40260.0 shares to see its total holdings shrink to 5.16 million shares valued at over $218.04 million and representing 2.24% of the shares outstanding. Fidelity Select Port. – Biotechno bought 0.11 million shares to bring its total holdings to over 4.43 million shares at a value of $187.19 million. Fidelity Select Port. – Biotechno now owns shares totaling to 1.92% of the shares outstanding.
Shares of Immunomedics Inc. (NASDAQ: IMMU) opened at $44.54, down -$0.02 from a prior closing price of $44.56. However, the script later closed the day at $44.20, down -0.81%. The company’s stock has a 5-day price change of 6.28% and 40.36% over the past three months. IMMU shares are trading 108.88% year to date (YTD), with the 12-month market performance up to 251.07% higher. It has a 12-month low price of $8.80 and touched a high of $44.91 over the same period. Currently, 1.45 million shares have been traded, compared to an average intraday trading volume of 2.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.81%, 8.27%, and 66.59% respectively.
Institutional ownership of Immunomedics Inc. (NASDAQ: IMMU) shares accounts for 90.80% of the company’s 225.31M shares outstanding. Mutual fund holders own 39.60%, while other institutional holders and individual stakeholders account for 51.92% and 22.11% respectively.
It has a market capitalization of $9.98B and a beta (3y monthly) value of 3.38. The earnings-per-share (ttm) stands at -$1.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.85% over the week and 4.30% over the month.
Analysts forecast that Immunomedics Inc. (IMMU) will achieve an EPS of -$0.25 for the current quarter, -$0.15 for the next quarter and -$0.55 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -120.60%, and 50.90% over the next financial year. EPS should grow at an annualized rate of 64.80% over the next five years, compared to -29.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Immunomedics Inc. (IMMU) as a “Strong Buy” at a consensus score of 1.80. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 2 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IMMU, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on May 05, 2020, with the firm’s price target at $40. Goldman coverage for the Immunomedics Inc. (IMMU) stock in a research note released on April 24, 2020 offered a Neutral rating with a price target of $22. H.C. Wainwright was of a view on April 23, 2020 that the stock is Buy, while Wells Fargo gave the stock Overweight rating on April 06, 2020, issuing a price target of $34. Goldman on their part issued Sell rating on April 03, 2020.