ImmunoGen, Inc. (NASDAQ:IMGN) has been given a consensus recommendation of “Hold” by the eleven research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.72.
A number of equities research analysts recently issued reports on IMGN shares. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of ImmunoGen in a research note on Wednesday, April 12th. Canaccord Genuity set a $6.00 price target on ImmunoGen and gave the stock a “buy” rating in a research note on Saturday, May 6th. Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, June 27th. BidaskClub downgraded ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Cantor Fitzgerald set a $5.00 price objective on ImmunoGen and gave the stock a “hold” rating in a report on Sunday, June 4th.
ImmunoGen (IMGN) remained flat at $5.82 during trading on Tuesday. 2,064,246 shares of the company’s stock traded hands. The company has a 50-day moving average price of $6.34 and a 200 day moving average price of $4.30. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.04. The stock’s market capitalization is $507.35 million.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The company had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. During the same period in the previous year, the business earned ($0.53) earnings per share. ImmunoGen’s revenue for the quarter was up 426.6% on a year-over-year basis. Equities research analysts expect that ImmunoGen will post ($0.84) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Redmile Group LLC purchased a new stake in ImmunoGen during the first quarter worth $15,421,000. Teachers Advisors LLC increased its stake in ImmunoGen by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock worth $428,000 after buying an additional 20,171 shares during the last quarter. Stephens Inc. AR purchased a new stake in ImmunoGen during the first quarter worth $152,000. KBC Group NV increased its stake in ImmunoGen by 6.4% in the first quarter. KBC Group NV now owns 299,613 shares of the biotechnology company’s stock worth $1,160,000 after buying an additional 17,893 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in ImmunoGen by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 58,815 shares of the biotechnology company’s stock worth $228,000 after buying an additional 5,893 shares during the last quarter. 74.38% of the stock is owned by institutional investors.
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.
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