H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Immunomedics to $31 from $26 after the FDA accepted the company's Biologics License Application for sacituzumab govitecan in third-line plus metastatic triplenegative breast cancer for review. While there is the possibility that the FDA could wait for the ASCENT trial data, which is expected in mid-2020, before making a final decision to approve the drug, sacituzumab should potentially reach the market in early Q3 of 2020, Selvaraju tells investors in a research note. The analyst points out that the FDA previously reviewed sacituzumab's efficacy and safety profile and that Immunomedics had a product label in hand, while the approval was solely subject to chemistry, manufacturing, and controls. Selvaraju reiterates a Buy rating on the shares.