ImmunoGen, Inc. (NASDAQ:IMGN) has been given an average recommendation of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.46.
Several equities analysts have recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $10.00 target price (up from $8.00) on shares of ImmunoGen in a research note on Wednesday, August 30th. Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a research note on Monday, September 25th. ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Leerink Swann reiterated a “buy” rating on shares of ImmunoGen in a research note on Tuesday, August 29th.
In related news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total transaction of $101,470.00. Following the sale, the vice president now directly owns 51,100 shares of the company’s stock, valued at approximately $355,145. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.51% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ImmunoGen during the 2nd quarter valued at approximately $102,000. Gould Asset Management LLC CA acquired a new stake in shares of ImmunoGen during the 2nd quarter valued at approximately $107,000. Intl Fcstone Inc. acquired a new stake in shares of ImmunoGen during the 2nd quarter valued at approximately $115,000. Aperio Group LLC raised its position in shares of ImmunoGen by 45.1% during the 2nd quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 5,221 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ImmunoGen during the 2nd quarter valued at approximately $126,000. 73.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of ImmunoGen (NASDAQ:IMGN) traded up 1.142% on Friday, reaching $5.755. 3,257,580 shares of the company were exchanged. The stock’s market capitalization is $515.63 million. The company has a 50-day moving average price of $6.64 and a 200 day moving average price of $5.81. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.84.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $30.59 million. The business’s quarterly revenue was up 426.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.53) earnings per share. On average, analysts forecast that ImmunoGen will post ($0.72) EPS for the current fiscal year.
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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