ImmunoGen’s (IMGN) Buy Rating Reiterated at Leerink Swann
Leerink Swann reaffirmed their buy rating on shares of ImmunoGen, Inc. (NASDAQ:IMGN) in a report published on Tuesday. Leerink Swann also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.34) EPS, FY2017 earnings at ($0.83) EPS and FY2018 earnings at ($1.54) EPS.
IMGN has been the topic of a number of other reports. BidaskClub upgraded shares of ImmunoGen from a hold rating to a buy rating in a research note on Saturday, August 26th. Cowen and Company reiterated a hold rating on shares of ImmunoGen in a research note on Saturday, May 6th. Canaccord Genuity set a $8.00 price objective on shares of ImmunoGen and gave the company a buy rating in a research note on Monday, July 31st. Royal Bank Of Canada upgraded shares of ImmunoGen from a sector perform rating to an outperform rating and increased their price objective for the company from $5.00 to $12.00 in a research note on Thursday, July 6th. Finally, ValuEngine upgraded shares of ImmunoGen from a sell rating to a hold rating in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.01.
Shares of ImmunoGen (IMGN) opened at 7.85 on Tuesday. The firm’s market capitalization is $703.34 million. The company’s 50-day moving average is $6.29 and its 200 day moving average is $4.84. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.84.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. During the same quarter last year, the company earned ($0.53) earnings per share. The company’s revenue was up 426.6% compared to the same quarter last year. Analysts anticipate that ImmunoGen will post ($0.74) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “ImmunoGen’s (IMGN) Buy Rating Reiterated at Leerink Swann” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.watchlistnews.com/immunogens-imgn-buy-rating-reiterated-at-leerink-swann/1536078.html.
Several hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new stake in shares of ImmunoGen during the second quarter worth $115,000. Bank of Nova Scotia acquired a new stake in shares of ImmunoGen during the second quarter worth $591,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ImmunoGen during the second quarter worth $126,000. Redmile Group LLC boosted its stake in shares of ImmunoGen by 30.8% in the second quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock worth $37,063,000 after buying an additional 1,228,002 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of ImmunoGen during the second quarter worth $102,000. 84.64% of the stock is currently owned by institutional investors.
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.
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.