As previously reported, Cantor Fitzgerald analyst Varun Kumar initiated Immunomedics with an Overweight rating and $28 price target. The current stock price reflects risks around FDA approval in triple-negative breast cancer due to the company receiving a complete response letter earlier this year, though he predicts sacituzumab govitecan will get regulatory approval since he views the issues raised in the CRL as not related to pre/clinical data. He also thinks, based on checks with key opinion leading doctors, that sacituzumab should have strong commercial uptake.