As previously reported, Wells Fargo analyst Jim Birchenough upgraded Immunomedics (IMMU) to Outperform from Market Perform, stating that he is impressed at how quickly the new board moved to secure financing needed to advance IMMU132 and to put in place new management. With improved leadership, a better cash position and the Seattle Genetics (SGEN) deal terminated, Birchenough expects Immunomedics to secure "more appropriate" partnership terms for its "competitive asset for solid tumors," he tells investors. He increased his price target range for Immunomedics shares to $10-$11.50 from $5-$6.