ImmunoGen (IMGN) Getting Positive News Coverage, Analysis Finds

Media headlines about ImmunoGen (NASDAQ:IMGN) have been trending positive recently, according to Alpha One Sentiment. The research group, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. ImmunoGen earned a coverage optimism score of 0.40 on Alpha One’s scale. Alpha One also gave news headlines about the biotechnology company an impact score of 18 out of 100, indicating that recent press coverage is very unlikely to have an impact on the company’s share price in the next several days.

Here are some of the headlines that may have effected AlphaOne Sentiment’s rankings:

Shares of ImmunoGen (NASDAQ:IMGN) opened at 5.25 on Friday. The stock’s market capitalization is $469.08 million. ImmunoGen has a 52-week low of $1.51 and a 52-week high of $6.21. The firm has a 50-day moving average price of $3.96 and a 200-day moving average price of $2.85.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, May 5th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.16. The business had revenue of $28.70 million for the quarter, compared to analyst estimates of $16.16 million. The company’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. On average, analysts predict that ImmunoGen will post ($1.42) EPS for the current year.

IMGN has been the subject of a number of research reports. Royal Bank of Canada set a $3.00 price objective on ImmunoGen and gave the company a “hold” rating in a research note on Saturday, February 18th. Canaccord Genuity set a $6.00 target price on ImmunoGen and gave the company a “buy” rating in a report on Saturday, February 18th. Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Thursday, February 23rd. Morgan Stanley dropped their target price on ImmunoGen from $2.50 to $1.30 and set an “underweight” rating on the stock in a report on Wednesday, March 1st. Finally, Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. ImmunoGen presently has an average rating of “Hold” and a consensus price target of $4.53.

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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. 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.

12 Month Chart for NASDAQ:IMGN

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