ValuEngine upgraded shares of ImmunoGen (NASDAQ:IMGN) from a sell rating to a hold rating in a report released on Wednesday morning.
Several other research analysts have also recently issued reports on the company. HC Wainwright set a $18.00 price objective on ImmunoGen and gave the stock a buy rating in a research note on Monday, February 12th. BidaskClub upgraded ImmunoGen from a buy rating to a strong-buy rating in a research note on Friday, February 9th. Zacks Investment Research cut ImmunoGen from a buy rating to a hold rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada restated an outperform rating and issued a $12.00 price objective on shares of ImmunoGen in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. ImmunoGen presently has a consensus rating of Buy and a consensus price target of $10.21.
ImmunoGen (IMGN) opened at $11.24 on Wednesday. ImmunoGen has a 12 month low of $2.84 and a 12 month high of $12.05. The company has a debt-to-equity ratio of -0.11, a quick ratio of 2.78 and a current ratio of 4.95.
In related news, Director Daniel M. Junius sold 46,667 shares of ImmunoGen stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $10.01, for a total transaction of $467,136.67. Following the completion of the transaction, the director now directly owns 243,367 shares in the company, valued at $2,436,103.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark J. Enyedy sold 67,717 shares of ImmunoGen stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total value of $736,083.79. Following the transaction, the chief executive officer now owns 532,383 shares of the company’s stock, valued at $5,787,003.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,834 shares of company stock valued at $2,118,633. 6.51% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in ImmunoGen during the second quarter valued at approximately $126,000. Virginia Retirement Systems ET AL purchased a new position in ImmunoGen during the third quarter valued at approximately $136,000. SG Americas Securities LLC raised its position in ImmunoGen by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 7,937 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in ImmunoGen during the third quarter valued at approximately $143,000. Finally, Alliance Wealth Management Group raised its position in ImmunoGen by 100.0% during the third quarter. Alliance Wealth Management Group now owns 20,000 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 78.34% of the company’s stock.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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