MML Investors Services LLC boosted its position in ImmunoGen, Inc. (NASDAQ:IMGN) by 64.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,491 shares of the biotechnology company’s stock after acquiring an additional 18,650 shares during the period. MML Investors Services LLC’s holdings in ImmunoGen were worth $304,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in shares of ImmunoGen by 130.1% during the second quarter. Parametric Portfolio Associates LLC now owns 88,553 shares of the biotechnology company’s stock valued at $630,000 after buying an additional 50,061 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of ImmunoGen during the third quarter valued at about $397,000. Alliance Wealth Management Group increased its position in shares of ImmunoGen by 100.0% during the third quarter. Alliance Wealth Management Group now owns 20,000 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 10,000 shares during the period. TD Asset Management Inc. bought a new stake in shares of ImmunoGen during the third quarter valued at about $286,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of ImmunoGen during the third quarter valued at about $136,000. Institutional investors and hedge funds own 78.25% of the company’s stock.
Several equities research analysts have recently weighed in on the company. ValuEngine upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. BidaskClub upgraded ImmunoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 9th. HC Wainwright assumed coverage on ImmunoGen in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of ImmunoGen in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.21.
IMGN stock opened at $12.32 on Wednesday. ImmunoGen, Inc. has a twelve month low of $2.84 and a twelve month high of $12.87. The company has a current ratio of 4.95, a quick ratio of 4.94 and a debt-to-equity ratio of -0.11. The company has a market capitalization of $1,596.81, a PE ratio of -12.08 and a beta of 2.17.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million during the quarter, compared to analyst estimates of $39.62 million. ImmunoGen’s quarterly revenue was up 185.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.39) earnings per share. research analysts forecast that ImmunoGen, Inc. will post -1.09 EPS for the current fiscal year.
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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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