ImmunoGen, Inc. (IMGN) Given Consensus Recommendation of “Hold” by Analysts
Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have received an average rating of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.30.
Several brokerages recently issued reports on IMGN. Zacks Investment Research upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, October 31st. Leerink Swann reiterated a “buy” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. BidaskClub upgraded 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 objective on shares of ImmunoGen and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a report on Monday, September 25th.
In related news, VP Craig Barrows sold 14,600 shares of the 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 in the company, valued at $355,145. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.51% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in ImmunoGen in the third quarter worth approximately $143,000. Perceptive Advisors LLC bought a new position in ImmunoGen in the third quarter worth approximately $536,000. Allianz Asset Management GmbH bought a new position in ImmunoGen in the third quarter worth approximately $1,780,000. Schwab Charles Investment Management Inc. raised its position in ImmunoGen by 33.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 441,445 shares of the biotechnology company’s stock worth $3,378,000 after acquiring an additional 109,547 shares during the period. Finally, Trexquant Investment LP raised its position in ImmunoGen by 220.0% in the third quarter. Trexquant Investment LP now owns 104,633 shares of the biotechnology company’s stock worth $800,000 after acquiring an additional 71,936 shares during the period. Institutional investors own 77.12% of the company’s stock.
ImmunoGen (NASDAQ:IMGN) opened at $5.70 on Tuesday. ImmunoGen has a 52-week low of $1.53 and a 52-week high of $8.84. The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The company had revenue of $8.50 million for the quarter, compared to the consensus estimate of $26.09 million. During the same quarter in the prior year, the company earned ($0.51) EPS. ImmunoGen’s revenue for the quarter was up 10.4% compared to the same quarter last year. research analysts forecast that ImmunoGen will post -0.98 EPS for the current year.
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.
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