ImmunoGen Inc. (NASDAQ:IMGN) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.91.
IMGN has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. JPMorgan Chase & Co. set a $5.00 price target on ImmunoGen and gave the stock a “hold” rating in a research report on Friday, August 5th. Cantor Fitzgerald reiterated a “hold” rating on shares of ImmunoGen in a research report on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating and set a $6.00 price target (down from $13.00) on shares of ImmunoGen in a research report on Friday, August 5th.
A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in ImmunoGen by 93.8% in the second quarter. Macquarie Group Ltd. now owns 930,000 shares of the biotechnology company’s stock valued at $2,864,000 after buying an additional 450,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in ImmunoGen by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 300,956 shares of the biotechnology company’s stock valued at $927,000 after buying an additional 5,874 shares in the last quarter. Lumbard & Kellner LLC boosted its stake in ImmunoGen by 108.9% in the second quarter. Lumbard & Kellner LLC now owns 351,565 shares of the biotechnology company’s stock valued at $1,083,000 after buying an additional 183,250 shares in the last quarter. Numeric Investors LLC acquired a new stake in ImmunoGen during the second quarter valued at approximately $667,000. Finally, Panagora Asset Management Inc. boosted its stake in ImmunoGen by 2,344.6% in the second quarter. Panagora Asset Management Inc. now owns 238,155 shares of the biotechnology company’s stock valued at $734,000 after buying an additional 228,413 shares in the last quarter. Hedge funds and other institutional investors own 91.63% of the company’s stock.
Shares of ImmunoGen (NASDAQ:IMGN) opened at 2.68 on Tuesday. The firm’s 50-day moving average price is $2.88 and its 200-day moving average price is $4.87. ImmunoGen has a 52-week low of $2.53 and a 52-week high of $14.22. The stock’s market capitalization is $234.03 million.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.12. ImmunoGen had a negative return on equity of 530.98% and a negative net margin of 239.42%. The firm 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 business earned ($0.35) EPS. The company’s quarterly revenue was down 41.2% on a year-over-year basis. Equities analysts forecast that ImmunoGen will post ($1.59) earnings per share for the current fiscal year.
ImmunoGen Company Profile
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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