ImmunoGen, Inc. (IMGN) Receives Consensus Recommendation of “Hold” from Analysts
ImmunoGen, Inc. (NASDAQ:IMGN) has earned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.08.
Several analysts have recently commented on IMGN shares. Cowen and Company restated a “hold” rating on shares of ImmunoGen in a report on Tuesday, August 29th. William Blair restated an “outperform” rating on shares of ImmunoGen in a report on Monday, June 26th. Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the stock a “hold” rating in a report on Sunday, June 4th. BidaskClub cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Tuesday, June 27th.
Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of 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 during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of ImmunoGen by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after acquiring an additional 1,919 shares during the period. Fisher Asset Management LLC lifted its stake in shares of ImmunoGen by 1.0% during the second quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock valued at $1,822,000 after acquiring an additional 2,530 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of ImmunoGen by 7.7% during the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after acquiring an additional 2,753 shares during the period. Finally, American International Group Inc. lifted its stake in shares of ImmunoGen by 7.1% during the first quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 3,418 shares during the period. 84.66% of the stock is currently owned by institutional investors and hedge funds.
ImmunoGen (NASDAQ:IMGN) traded up 1.89% during midday trading on Wednesday, reaching $7.55. The company’s stock had a trading volume of 5,688,046 shares. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.84. The firm has a 50 day moving average price of $6.47 and a 200 day moving average price of $5.06. The firm’s market capitalization is $676.46 million.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. ImmunoGen’s revenue for the quarter was up 426.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) EPS. On average, analysts predict that ImmunoGen will post ($0.74) EPS for the current year.
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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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