Shares of ImmunoGen Inc. (NASDAQ:IMGN) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.91.
Several brokerages recently issued reports on IMGN. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Zacks Investment Research lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 4th. JPMorgan Chase & Co. set a $5.00 price objective on shares of ImmunoGen and gave the company a “hold” rating in a report on Friday, August 5th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Finally, Jefferies Group reissued a “buy” rating and set a $6.00 price objective (down from $13.00) on shares of ImmunoGen in a report on Friday, August 5th.
ImmunoGen (NASDAQ:IMGN) traded down 0.903% during trading on Tuesday, hitting $2.745. The stock had a trading volume of 385,698 shares. ImmunoGen has a 12 month low of $2.53 and a 12 month high of $14.22. The firm has a 50 day moving average of $2.91 and a 200-day moving average of $4.98. The stock’s market cap is $239.71 million.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. ImmunoGen had a negative net margin of 239.42% and a negative return on equity of 530.98%. The company had revenue of $7.41 million for the quarter, compared to the consensus estimate of $17.11 million. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s revenue was down 41.2% on a year-over-year basis. Equities analysts predict that ImmunoGen will post ($1.61) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of ImmunoGen by 2.0% in the first quarter. BlackRock Fund Advisors now owns 3,194,295 shares of the biotechnology company’s stock worth $27,215,000 after buying an additional 61,325 shares during the period. Fisher Asset Management LLC raised its stake in shares of ImmunoGen by 3.9% in the second quarter. Fisher Asset Management LLC now owns 253,701 shares of the biotechnology company’s stock worth $751,000 after buying an additional 9,476 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of ImmunoGen by 551.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 225,900 shares of the biotechnology company’s stock worth $1,925,000 after buying an additional 191,200 shares during the period. Bellevue Group AG bought a new stake in shares of ImmunoGen during the first quarter worth $256,000. Finally, Quantitative Investment Management LLC raised its stake in shares of ImmunoGen by 844.0% in the second quarter. Quantitative Investment Management LLC now owns 195,400 shares of the biotechnology company’s stock worth $601,000 after buying an additional 174,700 shares during the period. 91.63% of the stock is currently owned by hedge funds and other institutional investors.
ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.
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