Jefferies Upgrades Immunomedics (IMMU) to Buy

Jefferies upgraded Immunomedics (NASDAQ: IMMU) from Hold to Buy with a price target of $5.00 (from $1.50) as '132 continues to impress.

Analyst Chris Howerton, PhD commented, "In our view, '132 continues to demonstrate impressive clinical data in solid tumors. In particular, the recent data presentations at both AACR and PEGS suggest strong clinical efficacy and relatively clean safety in both TNBC and urothelial cancer (UC). Importantly, we see these data as increasing the likelihood of IMMU securing a partner for this asset. As a result, we are raising our PT to $5 and upgrading to BUY on UC oppt'y and expanded IP to 2033."

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 $3.46 yesterday.

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