ImmunoGen, Inc. (NASDAQ:IMGN) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.72.
Several equities analysts have recently weighed in on IMGN shares. William Blair restated an “outperform” rating on shares of ImmunoGen in a report on Monday, June 26th. Royal Bank Of Canada upgraded ImmunoGen from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $5.00 to $12.00 in a report on Thursday, July 6th. Leerink Swann upgraded ImmunoGen from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $3.53 to $3.90 in a report on Wednesday, April 19th. BidaskClub cut ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 10th.
ImmunoGen (NASDAQ IMGN) traded up 0.572% during trading on Friday, reaching $6.155. The company had a trading volume of 1,401,143 shares. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $8.04. The stock has a 50 day moving average price of $6.36 and a 200 day moving average price of $4.51. The firm’s market capitalization is $551.47 million.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. ImmunoGen’s revenue was up 426.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.53) EPS. On average, equities research analysts predict that ImmunoGen will post ($0.84) earnings per share for the current year.
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A number of large investors have recently modified their holdings of IMGN. Bank of Nova Scotia purchased a new stake in shares of ImmunoGen during the second quarter valued at about $591,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ImmunoGen during the second quarter valued at about $126,000. Redmile Group LLC increased 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 valued at $37,063,000 after buying an additional 1,228,002 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ImmunoGen during the second quarter valued at about $102,000. Finally, State Street Corp increased its stake in shares of ImmunoGen by 159.1% in the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock valued at $29,450,000 after buying an additional 2,542,876 shares during the period. Institutional investors and hedge funds own 74.69% of the company’s stock.
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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