ImmunoGen (IMGN) Receives Consensus Rating of “Hold” from Brokerages

ImmunoGen (NASDAQ:IMGN) has earned an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.60.

IMGN has been the subject of a number of research analyst reports. HC Wainwright set a $18.00 target price on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Monday, February 12th. BidaskClub raised shares of ImmunoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 9th. Zacks Investment Research downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 target price on shares of ImmunoGen in a research report on Thursday, February 8th. Finally, Cantor Fitzgerald set a $5.00 target price on shares of ImmunoGen and gave the stock a “hold” rating in a research report on Sunday, March 25th.

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NASDAQ:IMGN opened at $10.25 on Friday. The company has a quick ratio of 4.94, a current ratio of 4.95 and a debt-to-equity ratio of -0.11. ImmunoGen has a 12 month low of $3.59 and a 12 month high of $13.41. The company has a market capitalization of $1,418.80, a price-to-earnings ratio of -13.67 and a beta of 2.17.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to analyst estimates of $39.62 million. During the same period in the previous year, the business posted ($0.39) earnings per share. The company’s revenue for the quarter was up 185.5% compared to the same quarter last year. sell-side analysts forecast that ImmunoGen will post -1.09 earnings per share for the current year.

In other news, VP Richard J. Gregory sold 34,486 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $10.88, for a total transaction of $375,207.68. Following the completion of the sale, the vice president now owns 239,094 shares of the company’s stock, valued at approximately $2,601,342.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David Brannon Johnston sold 10,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $11.53, for a total transaction of $115,300.00. Following the sale, the chief financial officer now directly owns 190,690 shares of the company’s stock, valued at approximately $2,198,655.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 229,930 shares of company stock valued at $2,515,150. Insiders own 6.51% of the company’s stock.

Several hedge funds have recently modified their holdings of IMGN. BlackRock Inc. grew its position in shares of ImmunoGen by 54.7% during the 4th quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock valued at $54,294,000 after acquiring an additional 2,996,116 shares during the period. Redmile Group LLC boosted its holdings in ImmunoGen by 35.3% in the 4th quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock worth $69,914,000 after buying an additional 2,845,465 shares during the period. Two Sigma Investments LP boosted its holdings in ImmunoGen by 168.9% in the 4th quarter. Two Sigma Investments LP now owns 1,020,089 shares of the biotechnology company’s stock worth $6,539,000 after buying an additional 640,669 shares during the period. Two Sigma Advisers LP bought a new position in ImmunoGen in the 4th quarter worth $3,805,000. Finally, Renaissance Technologies LLC boosted its holdings in ImmunoGen by 108.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,093,240 shares of the biotechnology company’s stock worth $7,008,000 after buying an additional 568,900 shares during the period. 78.24% of the stock is owned by hedge funds and other institutional investors.

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ImmunoGen Company Profile

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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