Immunomedics initiated

Immunomedics started with an Overweight rating, $38 target at Morgan Stanley. As previously reported, Morgan Stanley analyst Matthew Harrison initiated Immunomedics with an Overweight rating, stating that he expects IMMU-132 to be approved by its PDUFA date in January 2019 and expects rapid adoption of the drug after that. The drug is initially focused in late-line triple negative breast cancer, but he believes expansion to earlier lines of therapy can drive over $1B in peak sales, Harrison tells investors. He set a $38 price target on Immunomedics shares.
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