ImmunoGen (IMGN) Sets New 1-Year High at $10.07
ImmunoGen, Inc. (NASDAQ:IMGN) reached a new 52-week high on Monday . The stock traded as high as $10.07 and last traded at $8.91, with a volume of 3699100 shares. The stock had previously closed at $8.91.
Several research firms recently weighed in on IMGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of ImmunoGen in a report on Thursday, February 8th. HC Wainwright set a $18.00 price objective on shares of ImmunoGen and gave the stock a “buy” rating in a report on Monday. BidaskClub raised shares of ImmunoGen from a “buy” rating to a “strong-buy” rating in a report on Friday, February 9th. Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Tuesday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $9.10.
The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81.
A number of institutional investors have recently modified their holdings of IMGN. Arrowstreet Capital Limited Partnership bought a new stake in ImmunoGen in the second quarter worth about $102,000. Intl Fcstone Inc. bought a new stake in ImmunoGen in the second quarter worth about $115,000. SG Americas Securities LLC raised its position in ImmunoGen by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after acquiring an additional 7,937 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in ImmunoGen during the 2nd quarter worth about $126,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in ImmunoGen during the 3rd quarter worth about $136,000. Hedge funds and other institutional investors own 67.97% of the company’s stock.
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ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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