Cowen & Co. Sticks to Its Buy Rating for Immunomedics (IMMU)

By Jason Carr

In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Immunomedics (IMMUResearch Report), with a price target of $30.00. The company’s shares closed last Monday at $19.02.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 6.7% and a 50.1% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Immunomedics has an analyst consensus of Strong Buy, with a price target consensus of $26.20, which is a 41.6% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $26.00 price target.

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Based on Immunomedics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $94.29 million. In comparison, last year the company had a GAAP net loss of $64.17 million.

Based on the recent corporate insider activity of 12 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Immunomedics, Inc. is a clinical-stage biopharmaceutical company, which engages in the business of researching, developing, manufacturing and marketing biopharmaceutical products. It focuses on monoclonal antibody-based products for the targeted treatment of cancer. It operates through the United States, and Europe geographical segments.