ImmunoGen, Inc. (NASDAQ:IMGN) has been given an average recommendation of “Hold” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.46.
IMGN has been the topic of a number of recent analyst reports. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. BidaskClub downgraded ImmunoGen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the company a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of ImmunoGen in a research report on Monday, August 7th.
In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $355,145. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.51% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after buying an additional 186,730 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of ImmunoGen by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after buying an additional 1,919 shares during the period. Stifel Financial Corp boosted its stake in shares of ImmunoGen by 14.2% in the first quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 12,907 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 3,616 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of ImmunoGen by 3.5% in the first quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after buying an additional 22,991 shares during the period. Institutional investors and hedge funds own 72.85% of the company’s stock.
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Shares of ImmunoGen (IMGN) opened at 5.19 on Friday. The firm has a 50-day moving average price of $6.74 and a 200-day moving average price of $5.80. ImmunoGen has a 12-month low of $1.51 and a 12-month high of $8.84. The firm’s market cap is $465.01 million.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to analyst estimates of $30.59 million. ImmunoGen’s quarterly revenue was up 426.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) EPS. On average, equities research analysts expect that ImmunoGen will post ($0.72) earnings per share for the current fiscal year.
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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