ImmunoGen, Inc. (NASDAQ:IMGN) released its 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, Bloomberg Earnings reports. The firm had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. The company’s revenue was up 426.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) EPS.
ImmunoGen (NASDAQ:IMGN) traded down 1.37% on Wednesday, hitting $5.74. The stock had a trading volume of 2,358,761 shares. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.04. The stock has a 50 day moving average price of $6.34 and a 200 day moving average price of $4.30. The company’s market cap is $500.38 million.
Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in 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 during the period. Gould Asset Management LLC CA acquired a new position in ImmunoGen during the second quarter valued at about $107,000. Acadian Asset Management LLC acquired a new position in ImmunoGen during the first quarter valued at about $117,000. Aperio Group LLC boosted its position in 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 during the period. Finally, Parametric Portfolio Associates LLC boosted its position in 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 during the period. Institutional investors own 74.38% of the company’s stock.
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Several equities research analysts have commented on the company. Jefferies Group LLC restated a “buy” rating and issued a $9.00 target price on shares of ImmunoGen in a research note on Monday. Canaccord Genuity set a $8.00 target price on ImmunoGen and gave the stock a “buy” rating in a report on Monday, July 31st. Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the stock a “hold” rating in a report on Friday, July 28th. BidaskClub lowered ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.72.
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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