ImmunoGen, Inc. (IMGN) Receives Hold Rating from Cowen and Company
“IMGN announced a collaboration agreement with Jazz for the development and.”,” the firm’s analyst wrote.
Several other research firms have also recently issued reports on IMGN. Zacks Investment Research cut shares of ImmunoGen from a hold rating to a sell rating in a research report on Monday, July 10th. Royal Bank Of Canada upgraded shares of ImmunoGen from a sector perform rating to an outperform rating and raised their price objective for the stock from $5.00 to $12.00 in a research report on Thursday, July 6th. Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the stock a hold rating in a research report on Friday, July 28th. Jefferies Group LLC reiterated a buy rating and set a $6.00 price target on shares of ImmunoGen in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded shares of ImmunoGen from a hold rating to a buy rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $8.01.
ImmunoGen (NASDAQ IMGN) opened at 8.07 on Tuesday. The company’s market capitalization is $723.05 million. The company’s 50-day moving average is $6.32 and its 200 day moving average is $4.89. ImmunoGen has a one year low of $1.51 and a one year high of $8.84.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The firm had revenue of $39.02 million for the quarter, compared to analyst estimates of $30.59 million. During the same quarter in the previous year, the business posted ($0.53) earnings per share. ImmunoGen’s revenue for the quarter was up 426.6% on a year-over-year basis. On average, equities analysts anticipate that ImmunoGen will post ($0.74) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of ImmunoGen during the second quarter worth $102,000. Envestnet Asset Management Inc. boosted its stake in shares of ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock worth $107,000 after buying an additional 743 shares in the last quarter. Gould Asset Management LLC CA bought a new stake in shares of ImmunoGen during the second quarter worth $107,000. Intl Fcstone Inc. bought a new stake in shares of ImmunoGen during the second quarter worth $115,000. Finally, Acadian Asset Management LLC bought a new stake in shares of ImmunoGen during the first quarter worth $117,000. Institutional investors and hedge funds own 84.64% of the company’s stock.
ImmunoGen Company Profile
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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