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Immunomedics Has Fallen More than 30% on January 18

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Share price movements

On January 18, Immunomedics (IMMU) is trading close to $12.27, which is ~32.17% lower than its previous closing price. The company had a market capitalization of $3.42 billion.

On January 17, the company issued a press release announcing that it received a CRL (complete response letter) from the FDA. Immunomedics submitted an application seeking accelerated approval for the investigational drug, sacituzumab govitecan, in third line plus metastatic triple-negative breast cancer indication. The CRL raised doubts about the company’s future commercial trajectory.

Immunomedic is trading at its 52-week low—4.74% lower than the previous 52-week low price of $12.86. The company is trading at a discount of 55.18% compared to its 52-week high price of $27.33.

Based on Immunomedic’s closing price on January 17, the company reported returns of 1.80% in the last week, 1.29% in the last month, and -15.27% in the last quarter. Immunomedics also reported returns of -29.58% in the last half year, 13.13% in the last year, and 26.77% YTD.

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Analysts’ recommendations and target price 

On January 18, analysts’ 12-month consensus recommendation for Immunomedics is a “buy.” The 12-month consensus target price for the company is $34.13, which is 178.16% higher than its trading price of $12.27 on January 18. The highest target price estimate for the company is $55, while the lowest target price estimate is $18.

Among the seven analysts covering Immunomedics on January 18, two recommended a “strong buy,” four recommended a “buy,” and one recommended a “hold.”

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