Cantor Fitzgerald Reaffirms “Hold” Rating for ImmunoGen, Inc. (IMGN)
Cantor Fitzgerald restated their hold rating on shares of ImmunoGen, Inc. (NASDAQ:IMGN) in a research note released on Friday morning. The brokerage currently has a $5.00 price objective on the biotechnology company’s stock.
“FORWARD Progress. The nearest term commercial opportunity for IMGN is the FORWARD I trial, which is exploring mirvetuximab soravtansine (mirva”) as a single agent in 3rd line ovarian cancer in women who express high levels of the FRa receptor. This trial could read out in 2019 pending completion of enrollment in 2018.”,” the firm’s analyst wrote.
IMGN has been the subject of several other reports. Zacks Investment Research upgraded shares of ImmunoGen from a hold rating to a buy rating and set a $6.50 target price for the company in a report on Tuesday, October 31st. Leerink Swann reiterated a buy rating on shares of ImmunoGen in a report on Tuesday, August 29th. BidaskClub raised shares of ImmunoGen from a hold rating to a buy rating in a research report on Saturday, August 26th. Canaccord Genuity set a $8.00 price target on shares of ImmunoGen and gave the stock a buy rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada raised shares of ImmunoGen from a sector perform rating to an outperform rating and increased their price target for the stock from $5.00 to $12.00 in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $7.83.
Shares of ImmunoGen (NASDAQ:IMGN) traded down $0.09 on Friday, hitting $5.54. 2,827,145 shares of the stock were exchanged, compared to its average volume of 3,890,000. The company has a debt-to-equity ratio of -0.56, a quick ratio of 2.34 and a current ratio of 2.40. ImmunoGen has a 12-month low of $1.53 and a 12-month high of $8.84.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The business had revenue of $8.50 million for the quarter, compared to the consensus estimate of $26.09 million. During the same period last year, the firm posted ($0.51) EPS. ImmunoGen’s revenue for the quarter was up 10.4% on a year-over-year basis. sell-side analysts anticipate that ImmunoGen will post -0.82 EPS for the current fiscal year.
In related news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $6.95, for a total transaction of $101,470.00. Following the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at $355,145. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.51% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership bought a new position in ImmunoGen during the second quarter valued at approximately $102,000. Envestnet Asset Management Inc. raised its position in ImmunoGen by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 743 shares in the last quarter. Gould Asset Management LLC CA bought a new position in ImmunoGen during the second quarter valued at approximately $107,000. Intl Fcstone Inc. bought a new position in ImmunoGen during the second quarter valued at approximately $115,000. Finally, Aperio Group LLC raised its position in ImmunoGen by 45.1% during the second quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 5,221 shares in the last quarter. 72.99% of the stock is currently owned by hedge funds and other institutional investors.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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.
Receive News & Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.