ImmunoGen’s (IMGN) Hold Rating Reiterated at Cantor Fitzgerald
ImmunoGen, Inc. (NASDAQ:IMGN)‘s stock had its “hold” rating reiterated by investment analysts at Cantor Fitzgerald in a report released on Tuesday.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, June 27th. Canaccord Genuity set a $6.00 price target on ImmunoGen and gave the company a “buy” rating in a research note on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of ImmunoGen in a research note on Thursday, May 18th. BidaskClub lowered ImmunoGen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Royal Bank Of Canada set a $5.00 price target on ImmunoGen and gave the company a “hold” rating in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. ImmunoGen currently has a consensus rating of “Hold” and an average target price of $7.72.
ImmunoGen (NASDAQ IMGN) opened at 6.46 on Tuesday. The firm’s market capitalization is $578.80 million. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.04. The stock’s 50 day moving average price is $6.23 and its 200 day moving average price is $4.69.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. The business’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.53) earnings per share. On average, equities analysts expect that ImmunoGen will post ($0.84) EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in ImmunoGen by 6.5% in the first quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock worth $55,840,000 after buying an additional 884,524 shares during the last quarter. FMR LLC raised its stake in ImmunoGen by 598.9% in the second quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock worth $39,854,000 after buying an additional 4,803,256 shares during the last quarter. Redmile Group LLC raised its stake in ImmunoGen by 30.8% in the second quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock worth $37,063,000 after buying an additional 1,228,002 shares during the last quarter. Vanguard Group Inc. raised its stake in ImmunoGen by 3.4% in the second quarter. Vanguard Group Inc. now owns 4,248,688 shares of the biotechnology company’s stock worth $30,209,000 after buying an additional 138,257 shares during the last quarter. Finally, State Street Corp raised its stake in ImmunoGen by 159.1% in the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock worth $29,450,000 after buying an additional 2,542,876 shares during the last quarter. Institutional investors own 84.64% 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. 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.
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