Cantor Fitzgerald restated their hold rating on shares of ImmunoGen, Inc. (NASDAQ:IMGN) in a research note released on Friday, November 3rd. They currently have a $5.00 price target on the biotechnology company’s stock.
“FORWARD Progress. The nearest term commercial opportunity for IMGN is the FORWARD I trial, which is exploring mirvetuximab soravtansine (mirva”) as a single agent in 3rd line ovarian cancer in women who express high levels of the FRa receptor. This trial could read out in 2019 pending completion of enrollment in 2018.”,” the firm’s analyst commented.
Several other equities research analysts have also recently weighed in on IMGN. Canaccord Genuity set a $8.00 price target on ImmunoGen and gave the company a buy rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a buy rating and set a $9.00 price target on shares of ImmunoGen in a research report on Monday, August 7th. ValuEngine cut ImmunoGen from a hold rating to a sell rating in a research report on Thursday, September 21st. Zacks Investment Research upgraded shares of ImmunoGen from a hold rating to a buy rating and set a $6.50 price objective on the stock in a research report on Tuesday, October 31st. Finally, Cowen and Company restated a hold rating on shares of ImmunoGen in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $7.83.
Shares of ImmunoGen (NASDAQ IMGN) traded down $0.43 during trading hours on Friday, hitting $5.82. 3,755,500 shares of the company were exchanged, compared to its average volume of 2,892,693. ImmunoGen has a 52 week low of $1.53 and a 52 week high of $8.84. The company has a current ratio of 2.81, a quick ratio of 2.34 and a debt-to-equity ratio of -0.03.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.42). The business had revenue of $8.50 million for the quarter, compared to analyst estimates of $26.09 million. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) earnings per share. analysts expect that ImmunoGen will post -0.98 EPS for the current year.
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In other news, VP Craig Barrows sold 37,050 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $6.81, for a total transaction of $252,310.50. Following the completion of the sale, the vice president now owns 51,100 shares of the company’s stock, valued at $347,991. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.51% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of ImmunoGen by 37,346.0% during the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after purchasing an additional 186,730 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in ImmunoGen by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock worth $2,360,000 after acquiring an additional 1,919 shares during the period. Geode Capital Management LLC lifted its stake in ImmunoGen by 3.5% in the first quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock worth $2,625,000 after acquiring an additional 22,991 shares during the period. Vanguard Group Inc. lifted its stake in ImmunoGen by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock worth $15,907,000 after acquiring an additional 27,141 shares during the period. Finally, Chicago Equity Partners LLC lifted its stake in ImmunoGen by 124.7% in the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after acquiring an additional 272,315 shares during the period. 73.18% of the stock is owned by hedge funds and other institutional investors.
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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