ImmunoGen (NASDAQ:IMGN)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a report released on Thursday, Marketbeat reports. They presently have a $12.00 price objective on the biotechnology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 34.68% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. HC Wainwright began coverage on ImmunoGen in a report on Wednesday, January 31st. They set a “buy” rating on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a report on Friday, November 3rd. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Jefferies Group reissued a “buy” rating and set a $9.00 price target on shares of ImmunoGen in a report on Thursday, October 12th. Finally, Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ImmunoGen has an average rating of “Buy” and an average target price of $7.83.
ImmunoGen (NASDAQ:IMGN) opened at $8.91 on Thursday. The stock has a market capitalization of $1,158.51, a PE ratio of -6.85 and a beta of 2.50. ImmunoGen has a twelve month low of $2.31 and a twelve month high of $10.04. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of -0.03.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. FMR LLC grew its holdings in shares of ImmunoGen by 598.9% during the second quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock worth $39,854,000 after buying an additional 4,803,256 shares during the last quarter. BlackRock Inc. grew its holdings in shares of ImmunoGen by 54.7% during the fourth quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock worth $54,294,000 after buying an additional 2,996,116 shares during the last quarter. State Street Corp grew its holdings in shares of ImmunoGen by 159.1% during the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock worth $29,450,000 after buying an additional 2,542,876 shares during the last quarter. Chicago Equity Partners LLC grew its holdings in shares of ImmunoGen by 124.7% during the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after buying an additional 272,315 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of ImmunoGen during the third quarter worth about $1,780,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
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ImmunoGen Company Profile
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.
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