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.

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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.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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