ImmunoGen, Inc. (NASDAQ:IMGN) was upgraded by research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $3.90 price target on the biotechnology company’s stock, up from their previous price target of $3.53. Leerink Swann’s price objective indicates a potential downside of 6.92% from the stock’s previous close.
A number of other brokerages also recently weighed in on IMGN. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price target on shares of ImmunoGen in a report on Wednesday, April 12th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Monday, March 13th. Zacks Investment Research downgraded shares of ImmunoGen from a “buy” rating to a “hold” rating in a report on Monday, March 6th. Morgan Stanley reduced their price objective on shares of ImmunoGen from $2.50 to $1.30 and set an “underweight” rating for the company in a report on Wednesday, March 1st. Finally, Canaccord Genuity set a $6.00 price objective on shares of ImmunoGen and gave the stock a “buy” rating in a report on Saturday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.74.
Shares of ImmunoGen (NASDAQ:IMGN) opened at 4.19 on Wednesday. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $9.45. The stock’s market capitalization is $366.91 million. The firm has a 50-day moving average of $3.55 and a 200 day moving average of $2.54.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, February 17th. The biotechnology company reported ($0.39) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.39). The business had revenue of $13.85 million for the quarter, compared to analyst estimates of $16.28 million. During the same quarter last year, the company earned ($0.38) EPS. The business’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities analysts anticipate that ImmunoGen will post ($1.44) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of IMGN. Creative Planning boosted its stake in ImmunoGen by 116.4% in the first quarter. Creative Planning now owns 53,444 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 28,744 shares during the last quarter. Teachers Advisors LLC boosted 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 valued at $428,000 after buying an additional 20,171 shares during the last quarter. Norges Bank bought a new stake in ImmunoGen during the fourth quarter valued at $3,123,000. Moloney Securities Asset Management LLC bought a new stake in ImmunoGen during the fourth quarter valued at $411,000. Finally, Federated Investors Inc. PA boosted its stake in ImmunoGen by 69.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,104 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 44,353 shares during the last quarter. Hedge funds and other institutional investors own 85.26% of the company’s stock.
ImmunoGen Company Profile
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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