Barclays Downgrades Immunomedics (IMMU) to Hold

By Ryan Adsit

Immunomedics (IMMUResearch Report) received a Hold rating and an $88.00 price target from Barclays analyst Peter Lawson on September 14. The company’s shares closed last Wednesday at $85.36, close to its 52-week high of $86.91.

According to TipRanks.com, Lawson is a 4-star analyst with an average return of 9.8% and a 48.6% success rate. Lawson covers the Healthcare sector, focusing on stocks such as Springworks Therapeutics, Karyopharm Therapeutics, and Blueprint Medicines.

Immunomedics has an analyst consensus of Moderate Buy, with a price target consensus of $68.25, representing a -19.7% downside. In a report issued on September 14, Wells Fargo also downgraded the stock to Hold with a $88.00 price target.

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The company has a one-year high of $86.91 and a one-year low of $8.80. Currently, Immunomedics has an average volume of 3.82M.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IMMU in relation to earlier this year.

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Immunomedics, Inc. researching, developing, manufacturing, and marketing biopharmaceutical products. It focuses on monoclonal antibody-based products for the targeted treatment of cancer. The company was founded by David M. Goldenberg in July 1982 and is headquartered in Morris Plains, NJ.