ImmunoGen, Inc. (NASDAQ:IMGN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research report on Tuesday, June 27th. Canaccord Genuity set a $6.00 price objective on ImmunoGen and gave the company a “buy” rating in a research report on Saturday, May 6th. Jefferies Group LLC restated a “buy” rating and issued a $6.00 price objective on shares of ImmunoGen in a research report on Thursday, May 18th. Cantor Fitzgerald restated a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a research report on Monday, May 8th. Finally, Cowen and Company restated a “hold” rating on shares of ImmunoGen in a research report on Saturday, May 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.72.

ImmunoGen (IMGN) traded down 4.25% during trading on Friday, hitting $6.53. 2,508,547 shares of the stock were exchanged. The firm’s market capitalization is $585.07 million. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.04. The company has a 50-day moving average price of $6.23 and a 200 day moving average price of $4.69.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $30.59 million. The firm’s revenue was up 426.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.53) earnings per share. Equities analysts predict that ImmunoGen will post ($0.84) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC boosted its stake in shares of ImmunoGen by 6.5% in the first quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock valued at $55,840,000 after buying an additional 884,524 shares during the last quarter. FMR LLC boosted its stake in shares of ImmunoGen by 598.9% in the second quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after buying an additional 4,803,256 shares during the last quarter. Redmile Group LLC boosted its stake in shares of ImmunoGen by 30.8% in the second quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock valued at $37,063,000 after buying an additional 1,228,002 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ImmunoGen by 3.4% in the second quarter. Vanguard Group Inc. now owns 4,248,688 shares of the biotechnology company’s stock valued at $30,209,000 after buying an additional 138,257 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of ImmunoGen by 159.1% in the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock valued at $29,450,000 after buying an additional 2,542,876 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.

About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. 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.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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