ImmunoGen, Inc. (NASDAQ:IMGN) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.60.
IMGN has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Monday, March 19th. Leerink Swann reiterated an “outperform” rating on shares of ImmunoGen in a report on Monday, March 26th. BidaskClub upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Cantor Fitzgerald set a $5.00 target price on shares of ImmunoGen and gave the company a “hold” rating in a report on Sunday, March 25th. Finally, HC Wainwright set a $18.00 target price on shares of ImmunoGen and gave the company a “buy” rating in a report on Monday, February 12th.
NASDAQ:IMGN traded down $0.33 on Monday, hitting $10.19. The stock had a trading volume of 3,113,451 shares, compared to its average volume of 3,439,312. The company has a debt-to-equity ratio of -0.11, a current ratio of 4.95 and a quick ratio of 4.94. The firm has a market capitalization of $1,397.55, a price-to-earnings ratio of -13.59 and a beta of 2.17. ImmunoGen has a 1-year low of $2.84 and a 1-year high of $13.41.
ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to the consensus estimate of $39.62 million. ImmunoGen’s revenue was up 185.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.39) EPS. equities analysts anticipate that ImmunoGen will post -1.09 earnings per share for the current fiscal year.
In other news, VP Richard J. Gregory sold 34,486 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.88, for a total value of $375,207.68. Following the sale, the vice president now directly owns 239,094 shares of the company’s stock, valued at approximately $2,601,342.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark J. Enyedy sold 67,717 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total transaction of $736,083.79. Following the completion of the sale, the chief executive officer now directly owns 532,383 shares in the company, valued at $5,787,003.21. The disclosure for this sale can be found here. Insiders sold a total of 232,834 shares of company stock worth $2,534,433 over the last three months. Insiders own 6.51% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL purchased a new stake in shares of ImmunoGen in the 3rd quarter valued at approximately $136,000. SG Americas Securities LLC raised its stake in shares of ImmunoGen by 75.7% in the 4th quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 7,937 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of ImmunoGen in the 3rd quarter valued at approximately $143,000. Engineers Gate Manager LP purchased a new stake in shares of ImmunoGen in the 4th quarter valued at approximately $149,000. Finally, Dynamic Advisors Solutions LLC purchased a new stake in shares of ImmunoGen in the 4th quarter valued at approximately $150,000. 78.25% of the stock is currently owned by institutional investors and hedge funds.
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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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