ImmunoGen, Inc. (IMGN) Given Average Rating of “Buy” by Analysts

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Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been given an average rating of “Buy” by the eleven analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.75.

A number of equities analysts have issued reports on the stock. ValuEngine raised shares of ImmunoGen from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright set a $18.00 target price on ImmunoGen and gave the stock a “buy” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Guggenheim started coverage on ImmunoGen in a research note on Monday, September 17th. They set a “buy” rating on the stock. Finally, Piper Jaffray Companies started coverage on ImmunoGen in a research note on Thursday, September 6th. They set an “overweight” rating on the stock.

In other news, VP Anna Berkenblit sold 5,851 shares of ImmunoGen stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $8.00, for a total transaction of $46,808.00. Following the sale, the vice president now directly owns 132,769 shares in the company, valued at approximately $1,062,152. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.44% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. Schwab Charles Investment Management Inc. raised its stake in shares of ImmunoGen by 1.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 531,076 shares of the biotechnology company’s stock worth $5,587,000 after purchasing an additional 8,112 shares during the period. Northern Trust Corp raised its stake in shares of ImmunoGen by 1.3% during the 1st quarter. Northern Trust Corp now owns 1,224,830 shares of the biotechnology company’s stock worth $12,885,000 after purchasing an additional 15,530 shares during the period. New York State Common Retirement Fund raised its stake in shares of ImmunoGen by 25.7% during the 1st quarter. New York State Common Retirement Fund now owns 106,000 shares of the biotechnology company’s stock worth $1,115,000 after purchasing an additional 21,700 shares during the period. Russell Investments Group Ltd. raised its stake in ImmunoGen by 51.6% in the 1st quarter. Russell Investments Group Ltd. now owns 157,672 shares of the biotechnology company’s stock valued at $1,658,000 after acquiring an additional 53,644 shares during the period. Finally, Principal Financial Group Inc. raised its stake in ImmunoGen by 13.6% in the 1st quarter. Principal Financial Group Inc. now owns 87,202 shares of the biotechnology company’s stock valued at $918,000 after acquiring an additional 10,440 shares during the period. Institutional investors own 83.77% of the company’s stock.

IMGN traded down $0.36 during mid-day trading on Friday, reaching $7.43. 1,577,000 shares of the stock were exchanged, compared to its average volume of 2,602,897. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.76 and a quick ratio of 5.73. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -9.91 and a beta of 1.96. ImmunoGen has a 1 year low of $4.80 and a 1 year high of $13.41.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 27th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.02). The business had revenue of $9.29 million for the quarter, compared to analysts’ expectations of $14.12 million. ImmunoGen’s revenue was down 76.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) earnings per share. As a group, equities analysts anticipate that ImmunoGen will post -1.22 EPS for the current year.

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.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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