Brokerages Set ImmunoGen Inc. (NASDAQ:IMGN) Price Target at $9.91
Shares of ImmunoGen Inc. (NASDAQ:IMGN) have earned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.91.
Several research analysts have issued reports on IMGN shares. Cowen and Company restated a “hold” rating on shares of ImmunoGen in a research report on Monday, June 6th. Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a research report on Wednesday, June 8th. Zacks Investment Research lowered shares of 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 shares of ImmunoGen and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Jefferies Group restated a “buy” rating and issued a $6.00 price target (down previously from $13.00) on shares of ImmunoGen in a research report on Friday, August 5th.
Shares of ImmunoGen (NASDAQ:IMGN) opened at 2.65 on Tuesday. ImmunoGen has a 12-month low of $2.53 and a 12-month high of $14.22. The stock’s 50 day moving average price is $2.89 and its 200-day moving average price is $4.91. The firm’s market capitalization is $231.41 million.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Zacks’ 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 analyst estimates of $17.11 million. During the same quarter in the prior year, the business earned ($0.35) EPS. ImmunoGen’s revenue was down 41.2% compared to the same quarter last year. On average, equities analysts expect that ImmunoGen will post ($1.61) EPS for the current year.
Several large investors have recently modified their holdings of IMGN. 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 about $256,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of ImmunoGen during the second quarter worth about $417,000. 91.63% of the stock is owned by 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.
Receive News & Stock Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related stocks with our FREE daily email newsletter.