ImmunoGen, Inc. (NASDAQ:IMGN) shares shot up 11% during trading on Friday . The stock traded as high as $5.67 and last traded at $5.63. 6,970,746 shares traded hands during trading, an increase of 72% from the average session volume of 4,062,375 shares. The stock had previously closed at $5.07.

Several brokerages have recently commented on IMGN. Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Tuesday, October 31st. Leerink Swann reaffirmed 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 report on Saturday, August 26th. Canaccord Genuity set a $8.00 target price on shares of ImmunoGen and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.83.

The company has a debt-to-equity ratio of -0.56, a current ratio of 2.40 and a quick ratio of 2.34.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.42). The business had revenue of $8.50 million during the quarter, compared to the consensus estimate of $26.09 million. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) EPS. research analysts anticipate that ImmunoGen, Inc. will post -0.82 earnings per share for the current year.

In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the transaction, the vice president now owns 51,100 shares in the company, valued at approximately $355,145. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.51% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new position in ImmunoGen in the 2nd quarter valued at $102,000. Gould Asset Management LLC CA purchased a new position in ImmunoGen in the 2nd quarter valued at $107,000. Intl Fcstone Inc. purchased a new position in ImmunoGen in the 2nd quarter valued at $115,000. Aperio Group LLC lifted its holdings in ImmunoGen by 45.1% in the 2nd quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 5,221 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in ImmunoGen in the 2nd quarter valued at $126,000. Institutional investors own 73.03% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/immunogen-inc-imgn-shares-up-11/1680320.html.

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.