ImmunoGen, Inc. (IMGN) Receives Consensus Rating of “Hold” from Brokerages
Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.08.
Several brokerages have commented on IMGN. Canaccord Genuity reiterated a “buy” rating and set a $10.00 target price (up previously from $8.00) on shares of ImmunoGen in a research report on Wednesday, August 30th. BidaskClub upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Cantor Fitzgerald reiterated a “hold” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 target price on shares of ImmunoGen in a research report on Monday, August 7th. Finally, Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Tuesday, August 29th.
ImmunoGen (IMGN) traded down 5.36% during midday trading on Wednesday, hitting $7.24. The stock had a trading volume of 4,490,854 shares. ImmunoGen has a one year low of $1.51 and a one year high of $8.84. The company’s market cap is $648.68 million. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $4.99.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. The business’s revenue was up 426.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) EPS. Equities analysts predict that ImmunoGen will post ($0.74) EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of ImmunoGen by 37,346.0% in the 1st quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after buying an additional 186,730 shares during the period. Stifel Financial Corp grew its holdings in shares of ImmunoGen by 14.2% in the 1st quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 12,907 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of ImmunoGen by 8.2% in the 1st quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 3,616 shares during the period. Geode Capital Management LLC grew its holdings in shares of ImmunoGen by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after buying an additional 22,991 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of ImmunoGen by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after buying an additional 27,141 shares during the period. 84.64% of the stock is owned by institutional investors.
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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