ImmunoGen, Inc. (NASDAQ:IMGN)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.55, but opened at $6.69. ImmunoGen shares last traded at $6.99, with a volume of 4,299,630 shares trading hands.
A number of equities analysts recently commented on IMGN shares. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. William Blair reissued an “outperform” rating on shares of ImmunoGen in a research note on Monday, June 26th. BidaskClub lowered ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Cantor Fitzgerald set a $5.00 price target on ImmunoGen and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of ImmunoGen in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.05.
The stock’s 50 day moving average price is $7.14 and its 200 day moving average price is $5.64. The company’s market cap is $593.13 million.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million for the quarter, compared to analyst estimates of $30.59 million. The company’s revenue for the quarter was up 426.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. Analysts predict that ImmunoGen, Inc. will post ($0.74) EPS for the current year.
In other news, VP Craig Barrows sold 37,050 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $6.81, for a total transaction of $252,310.50. Following the transaction, the vice president now directly owns 51,100 shares in the company, valued at approximately $347,991. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.51% of the company’s stock.
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 186,730 shares during the last quarter. Stifel Financial Corp lifted its holdings in 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 acquiring an additional 12,907 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in 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 acquiring an additional 3,616 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 22,991 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in ImmunoGen by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after acquiring an additional 27,141 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.
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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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