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Fly News Breaks for April 30, 2019
IMMU
Apr 30, 2019 | 07:50 EDT
H.C. Wainwright analyst Raghuram Selvaraju says the recent weakness in shares of Immunomedics creates a favorable entry point. The analyst views the company's licensing agreement with China's Everest Medicines as favorable and upped his price target for the shares to $29 from $28. Everest's expertise around development, regulatory affairs, and commercialization in Asian markets should enable IMMU-132 to enter those markets in the most expeditious timeframe, Selvaraju tells investors in a research note. He reiterates a Buy rating on Immunomedics.
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