BidaskClub upgraded shares of ImmunoGen (NASDAQ:IMGN) from a hold rating to a buy rating in a research report released on Thursday.
A number of other brokerages also recently commented on IMGN. Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the stock a hold rating in a research note on Sunday, April 8th. HC Wainwright set a $18.00 price objective on shares of ImmunoGen and gave the stock a buy rating in a research note on Wednesday, April 25th. ValuEngine downgraded shares of ImmunoGen from a hold rating to a sell rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of ImmunoGen from a sell rating to a hold rating in a research note on Monday, March 19th. Finally, Canaccord Genuity reissued a buy rating and issued a $20.00 price objective on shares of ImmunoGen in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. ImmunoGen has a consensus rating of Buy and a consensus price target of $12.42.
Shares of ImmunoGen opened at $12.15 on Thursday, MarketBeat.com reports. The company has a market capitalization of $1.55 billion, a P/E ratio of -16.20 and a beta of 2.14. ImmunoGen has a 52 week low of $4.80 and a 52 week high of $13.41. The company has a quick ratio of 3.73, a current ratio of 3.74 and a debt-to-equity ratio of -0.06.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, May 4th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $15.04 million. The firm’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period last year, the business earned ($0.20) earnings per share. sell-side analysts predict that ImmunoGen will post -1.14 EPS for the current fiscal year.
In other ImmunoGen news, CFO David Brannon Johnston sold 10,000 shares of ImmunoGen stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $11.02, for a total value of $110,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.44% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. TCI Wealth Advisors Inc. grew its holdings in ImmunoGen by 150.0% in the first quarter. TCI Wealth Advisors Inc. now owns 10,000 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 6,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ImmunoGen by 198.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,144 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 7,411 shares during the last quarter. SG Americas Securities LLC grew its holdings in ImmunoGen by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 7,937 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in ImmunoGen in the first quarter worth $126,000. Finally, MANA Advisors LLC purchased a new position in ImmunoGen in the fourth quarter worth $169,000. 78.39% of the stock is currently owned by institutional investors and hedge funds.
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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