Jefferies Assumes Immunomedics (IMMU) at Buy

October 6, 2016 6:48 AM EDT
Get Alerts IMMU Hot Sheet
Price: $2.19 --0%

Rating Summary:
    7 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 8
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Jefferies assumes coverage on Immunomedics (NASDAQ: IMMU) with a Buy rating and a price target of $5.50 (from $5.00).

Analyst Matthew Andrews commented, "Assuming coverage with a Buy Rating and $5.50 price target. IMMU-132 has generated promising results in Triple Negative breast cancer and we believe clin/reg/CMC progress in 2016 sets the stage for a deal in the coming months ahead of Ph. III start by late 2016/early 2017. Based on '132's TNBC profile and FDA precedent, we assign a 55% probability of Accelerated Approval (AA) based on Ph. II data in 2018."

For an analyst ratings summary and ratings history on Immunomedics click here. For more ratings news on Immunomedics click here.

Shares of Immunomedics closed at $2.50 yesterday.

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