Immunomedics (IMMU) Received its Third Buy in a Row

After Cowen & Co. and Piper Jaffray gave Immunomedics (NASDAQ: IMMU) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Immunomedics today and set a price target of $26. The company’s shares closed last Monday at $15.59.

Selvaraju wrote:

“We have utilized a discounted cash flow (DCF)-based assessment in valuing Immunomedics. Our valuation assessment ascribes a total risk-adjusted enterprise value of $4.9B to IMMU-132 across breast, urothelial and lung cancer.”

According to, Selvaraju is ranked 0 out of 5 stars with an average return of -8.3% and a 32.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.

Currently, the analyst consensus on Immunomedics is a Strong Buy with an average price target of $25.20, which is an 87.5% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock with a $30 price target.

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The company has a one-year high of $24.99 and a one-year low of $11.55. Currently, Immunomedics has an average volume of 1.87M.

Based on the recent corporate insider activity of 14 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. 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.