BidaskClub upgraded shares of ImmunoGen (NASDAQ:IMGN) from a strong sell rating to a sell rating in a report released on Tuesday.

IMGN has been the subject of several other reports. HC Wainwright set a $18.00 price objective on ImmunoGen and gave the company a buy rating in a research report on Tuesday, June 5th. Cowen reissued a hold rating on shares of ImmunoGen in a research report on Thursday, May 17th. Zacks Investment Research cut ImmunoGen from a hold rating to a sell rating in a research report on Monday, April 16th. ValuEngine raised ImmunoGen from a buy rating to a strong-buy rating in a research report on Saturday, June 2nd. Finally, Canaccord Genuity reissued a buy rating and issued a $20.00 price objective on shares of ImmunoGen in a research report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $12.42.

IMGN opened at $8.95 on Tuesday. ImmunoGen has a 1-year low of $4.80 and a 1-year high of $13.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.76 and a quick ratio of 5.73. The company has a market capitalization of $1.33 billion, a PE ratio of -11.93 and a beta of 2.02.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 27th. The biotechnology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The firm had revenue of $9.29 million during the quarter, compared to the consensus estimate of $14.12 million. During the same period last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was down 76.2% compared to the same quarter last year. sell-side analysts predict that ImmunoGen will post -1.2 EPS for the current year.

In related news, CFO David Brannon Johnston sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $11.02, for a total value of $110,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.44% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of ImmunoGen by 356.1% in the first quarter. UBS Group AG now owns 476,323 shares of the biotechnology company’s stock valued at $5,011,000 after purchasing an additional 371,886 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ImmunoGen by 51.6% during the first quarter. Russell Investments Group Ltd. now owns 157,672 shares of the biotechnology company’s stock worth $1,658,000 after acquiring an additional 53,644 shares in the last quarter. Geode Capital Management LLC raised its stake in ImmunoGen by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 955,193 shares of the biotechnology company’s stock worth $6,122,000 after acquiring an additional 70,643 shares in the last quarter. Wells Fargo & Company MN raised its stake in ImmunoGen by 14.7% during the first quarter. Wells Fargo & Company MN now owns 1,788,639 shares of the biotechnology company’s stock worth $18,817,000 after acquiring an additional 229,787 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in ImmunoGen during the first quarter worth $126,000. Institutional investors and hedge funds own 70.85% of the company’s stock.

About ImmunoGen

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

Read More: What are the Different Types of Leveraged Buyouts?

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.