ImmunoGen, Inc. (NASDAQ:IMGN)‘s stock had its “hold” rating reissued by Cantor Fitzgerald in a note issued to investors on Monday. They currently have a $5.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 23.66% from the stock’s previous close.

The analysts wrote, “IMGN’s speed to market strategy with mirvetuximab soravtansine is intended to advance the drug through the regulatory process by the end of 2020 (FORWARD I), and it is on track.””

Other research analysts have also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of ImmunoGen in a research note on Wednesday, June 28th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 target price (up previously from $8.00) on shares of ImmunoGen in a research note on Wednesday, August 30th. William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a research note on Monday, June 26th. Finally, ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.01.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 426.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.53) EPS.

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In related news, VP Craig Barrows sold 14,600 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at $355,145. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.51% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in 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 purchasing an additional 743 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in ImmunoGen by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after acquiring an additional 1,919 shares in the last quarter. Fisher Asset Management LLC boosted its position in ImmunoGen by 1.0% during the 2nd quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock valued at $1,822,000 after acquiring an additional 2,530 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in ImmunoGen by 7.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after acquiring an additional 2,753 shares in the last quarter. Finally, American International Group Inc. boosted its position in ImmunoGen by 7.1% during the 1st quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 3,418 shares in the last quarter. 67.57% of the stock is currently owned by institutional investors.

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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