ImmunoGen, Inc. (NASDAQ:IMGN) Given a $5.00 Price Target at Cantor Fitzgerald
Cantor Fitzgerald set a $5.00 price objective on ImmunoGen, Inc. (NASDAQ:IMGN) in a research note issued to investors on Friday morning. The brokerage currently has a hold rating on the biotechnology company’s stock.
Several other research analysts have also commented on IMGN. Cowen and Company reaffirmed a hold rating on shares of ImmunoGen in a report on Saturday, May 6th. Royal Bank Of Canada set a $5.00 price target on shares of ImmunoGen and gave the company a hold rating in a report on Saturday, May 6th. Canaccord Genuity set a $6.00 price target on shares of ImmunoGen and gave the company a buy rating in a report on Saturday, May 6th. BidaskClub lowered shares of ImmunoGen from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $6.00 price target on shares of ImmunoGen in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $6.76.
Shares of ImmunoGen (NASDAQ:IMGN) opened at 5.94 on Friday. The stock’s market capitalization is $517.81 million. The stock has a 50 day moving average of $6.23 and a 200-day moving average of $4.25. ImmunoGen has a one year low of $1.51 and a one year high of $8.04.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. During the same period last year, the firm posted ($0.53) earnings per share. The company’s quarterly revenue was up 426.6% on a year-over-year basis. Equities analysts predict that ImmunoGen will post ($1.18) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Aperio Group LLC increased its stake in shares of ImmunoGen by 45.1% in the second quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 5,221 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 743 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ImmunoGen during the first quarter valued at $117,000. Parametric Portfolio Associates LLC increased its stake in shares of ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 2,753 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of ImmunoGen during the first quarter valued at $152,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.
ImmunoGen Company Profile
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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