Immunomedics Inc. Stock Downgraded (IMMU)
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- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has significantly decreased by 44.7% when compared to the same quarter one year ago, falling from -$5.10 million to -$7.38 million.
- Net operating cash flow has decreased to -$7.34 million or 17.25% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.
- The share price of IMMUNOMEDICS INC has not done very well: it is down 6.14% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
- IMMUNOMEDICS INC's earnings per share declined by 42.9% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, IMMUNOMEDICS INC turned its bottom line around by earning $0.00 versus -$0.21 in the prior year. This year, the market expects a decline in earnings from $0.00 to -$0.37.
- IMMU, with its decline in revenue, underperformed when compared the industry average of 5.8%. Since the same quarter one year prior, revenues slightly dropped by 8.2%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
-- Written by a member of TheStreet Ratings Staff
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