Analysts Set ImmunoGen, Inc. (IMGN) Price Target at $7.46
ImmunoGen, Inc. (NASDAQ:IMGN) has received a consensus rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.46.
A number of analysts recently weighed in on IMGN shares. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a research note on Monday, June 26th. BidaskClub lowered shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Tuesday, June 27th. Finally, Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the stock a “hold” rating in a research note on Friday, July 28th.
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In other ImmunoGen news, VP Craig Barrows sold 37,050 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $6.81, for a total value of $252,310.50. Following the completion of the transaction, the vice president now directly owns 51,100 shares in the company, valued at $347,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.51% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock worth $725,000 after purchasing an additional 186,730 shares in the last quarter. Stifel Financial Corp raised its holdings in ImmunoGen by 14.2% in the first quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 12,907 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 3,616 shares in the last quarter. Geode Capital Management LLC raised its holdings in ImmunoGen by 3.5% in the first quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock worth $2,625,000 after purchasing an additional 22,991 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in ImmunoGen by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock worth $15,907,000 after purchasing an additional 27,141 shares in the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.
Shares of ImmunoGen (NASDAQ:IMGN) traded up 2.35% on Friday, hitting $7.83. 2,053,368 shares of the company traded hands. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.84. The firm’s 50-day moving average is $7.01 and its 200 day moving average is $5.51. The firm’s market capitalization is $701.54 million.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $30.59 million. During the same period last year, the company earned ($0.53) earnings per share. The firm’s revenue was up 426.6% compared to the same quarter last year. On average, analysts anticipate that ImmunoGen will post ($0.74) earnings per share for the current fiscal year.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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