StockNews.com began coverage on shares of ImmunoGen (NASDAQ:IMGN – Get Rating) in a research report sent to investors on Thursday. The firm issued a sell rating on the biotechnology company’s stock.
A number of other brokerages have also recently issued reports on IMGN. HC Wainwright reiterated a buy rating and issued a $15.00 target price on shares of ImmunoGen in a report on Thursday, March 2nd. Guggenheim set a $22.00 target price on ImmunoGen in a report on Thursday, November 17th. JPMorgan Chase & Co. lifted their target price on ImmunoGen from $8.00 to $9.00 and gave the company a neutral rating in a report on Monday, January 23rd. Truist Financial initiated coverage on ImmunoGen in a report on Monday, November 21st. They set a buy rating and a $10.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on ImmunoGen from $12.00 to $15.00 in a research report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $12.29.
ImmunoGen Price Performance
Shares of IMGN traded down $0.12 during trading hours on Thursday, reaching $3.96. The stock had a trading volume of 5,076,430 shares, compared to its average volume of 3,829,865. ImmunoGen has a 12 month low of $3.10 and a 12 month high of $6.63. The firm has a 50-day simple moving average of $4.33 and a 200 day simple moving average of $4.96.
Institutional Investors Weigh In On ImmunoGen
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in ImmunoGen in the second quarter worth $47,000. Great West Life Assurance Co. Can bought a new position in shares of ImmunoGen during the third quarter valued at $48,000. NewEdge Wealth LLC bought a new position in shares of ImmunoGen during the second quarter valued at $52,000. Seven Eight Capital LP bought a new position in shares of ImmunoGen during the third quarter valued at $60,000. Finally, IFG Advisory LLC bought a new position in shares of ImmunoGen during the fourth quarter valued at $60,000. 89.13% of the stock is owned by hedge funds and other institutional investors.
ImmunoGen, Inc engages in the discovery and development of antibody-drug conjugates to improve outcomes for cancer patients. Its pipeline includes Mirvetuximab Soravtansine, IMGN632, IMGC936, and IMGN151. The company was founded on March 27, 1981 and is headquartered in Waltham, MA.
- Get a free copy of the StockNews.com research report on ImmunoGen (IMGN)
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