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Here’s What’s Driving Investor Interest in Immunomedics

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Sep. 25 2018, Updated 10:47 a.m. ET

Immunomedics’ target price

Clinical stage biopharmaceutical company Immunomedics (IMMU) is currently focused on advancing several research programs evaluating its leading investigational antibody-drug conjugate (or ADC), sacituzumab govitecan, in multiple solid tumor indications. The company has reported YTD (year-to-date) returns of 33.17% in 2018.

Analysts’ 12-month consensus recommendation for Immunomedics as of September 23 is a “strong buy.” The 12-month consensus target price for the company is $35.83, which is 66.50% higher than its closing price as of September 21.

Of the six analysts covering Immunomedics in September, three have recommended “strong buys,” and three have recommended “buys” on the stock.

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Immunomedics reported revenue of $2.16 million in its fiscal 2018, which ended on June 30, 2018. This revenue reflected a YoY (year-over-year) fall of 11.75%. However, analysts expect the company to witness more than 100% YoY revenue growth in fiscal 2019, fiscal 2020, and fiscal 2021. Immunomedics is expected to report revenues of $35.63 million, $141.57 million, and $402.41 million, respectively, in fiscal 2019, fiscal 2020, and fiscal 2021.

Sacituzumab govitecan growth trends

On July 18, as per Immunomedics’ press release, the FDA accepted for review a supplemental biologics license application (or sBLA) evaluating sacituzumab govitecan in patients suffering from metastatic triple-negative breast cancer who had been previously treated with at least two therapies, such as CDK4/6 inhibitors, hormonal therapy, or chemotherapy. The Prescription Drug User Fee Act (or PDUFA) date for this application is set at January 19.

Besides this, the company has also started enrolling patients in the pivotal Phase 2 TROPHY U-01 study, which is evaluating the drug as a monotherapy in the treatment of metastatic urothelial cancer.

Additionally, Immunomedics has entered into collaborations with several pharmaceutical companies, including AstraZeneca (AZN), Clovis Oncology (CLVS), and cancer research organizations such as Yale and Wisconsin, to study sacituzumab govitecan in several solid tumor indications across multiple lines of therapy.

In the next article, we’ll discuss the growth trends for Ascendis Pharma in greater detail.

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