Wells Fargo Keeps Their Buy Rating on Immunomedics (IMMU)

By Ryan Adsit

In a report released today, Jim Birchenough from Wells Fargo maintained a Buy rating on Immunomedics (IMMUResearch Report). The company’s shares closed last Monday at $40.01.

According to TipRanks.com, Birchenough is a 5-star analyst with an average return of 19.6% and a 49.6% success rate. Birchenough covers the Healthcare sector, focusing on stocks such as Turning Point Therapeutics, Global Blood Therapeutics, and Iovance Biotherapeutics.

Currently, the analyst consensus on Immunomedics is a Strong Buy with an average price target of $40.88, which is a 2.5% upside from current levels. In a report issued on June 23, Guggenheim also maintained a Buy rating on the stock with a $41.00 price target.

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The company has a one-year high of $37.69 and a one-year low of $8.80. Currently, Immunomedics has an average volume of 5.15M.

Based on the recent corporate insider activity of 13 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. 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.