ImmunoGen (IMGN) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of ImmunoGen (NASDAQ:IMGN) from a hold rating to a buy rating in a research note published on Thursday.

Several other brokerages have also recently commented on IMGN. Jefferies Group reissued a buy rating and set a $9.00 price target on shares of ImmunoGen in a research report on Thursday, October 12th. Cantor Fitzgerald reissued a hold rating and set a $5.00 price target on shares of ImmunoGen in a research report on Monday, September 25th. ValuEngine cut shares of ImmunoGen from a hold rating to a sell rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised shares of ImmunoGen from a hold rating to a buy rating and set a $6.50 price target on the stock in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $7.83.

Shares of ImmunoGen (NASDAQ:IMGN) opened at $8.03 on Thursday. The company has a market cap of $1,240.00, a price-to-earnings ratio of -6.18 and a beta of 2.20. ImmunoGen has a 52-week low of $2.20 and a 52-week high of $8.84. The company has a debt-to-equity ratio of -0.03, a current ratio of 2.81 and a quick ratio of 2.78.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The company had revenue of $8.50 million for the quarter, compared to analyst estimates of $26.09 million. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. equities analysts predict that ImmunoGen will post -0.97 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of ImmunoGen in the 2nd quarter valued at about $102,000. Intl Fcstone Inc. bought a new stake in shares of ImmunoGen in the 2nd quarter valued at about $115,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of ImmunoGen in the 2nd quarter valued at about $126,000. Virginia Retirement Systems ET AL bought a new stake in shares of ImmunoGen in the 3rd quarter valued at about $136,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of ImmunoGen in the 3rd quarter valued at about $143,000. 68.02% of the stock is currently owned by hedge funds and other institutional investors.

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About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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