ImmunoGen (IMGN) Rating Increased to Buy at BidaskClub

ImmunoGen (NASDAQ:IMGN) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other research firms also recently issued reports on IMGN. Cantor Fitzgerald restated a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a research report on Friday, November 3rd. Jefferies Group restated a “buy” rating and set a $9.00 target price on shares of ImmunoGen in a research report on Thursday, October 12th. ValuEngine downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.83.

ImmunoGen (NASDAQ IMGN) traded up $0.02 during trading hours on Thursday, hitting $8.03. The company’s stock had a trading volume of 2,070,000 shares, compared to its average volume of 2,730,000. The stock has a market capitalization of $1,250.00, a P/E ratio of -6.18 and a beta of 2.20. ImmunoGen has a 12-month low of $2.20 and a 12-month high of $8.84. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of -0.03.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The business had revenue of $8.50 million during the quarter, compared to analysts’ expectations of $26.09 million. ImmunoGen’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.51) EPS. equities analysts forecast that ImmunoGen will post -0.97 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in IMGN. Schwab Charles Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 1,919 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ImmunoGen by 31.7% in the second quarter. Bank of New York Mellon Corp now owns 577,840 shares of the biotechnology company’s stock worth $4,108,000 after purchasing an additional 138,923 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of ImmunoGen by 122.7% in the second quarter. Neuberger Berman Group LLC now owns 106,757 shares of the biotechnology company’s stock worth $759,000 after purchasing an additional 58,814 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of ImmunoGen by 3.1% in the second quarter. TIAA CREF Investment Management LLC now owns 252,260 shares of the biotechnology company’s stock worth $1,794,000 after purchasing an additional 7,658 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of ImmunoGen by 62.0% in the second quarter. GSA Capital Partners LLP now owns 138,526 shares of the biotechnology company’s stock worth $985,000 after purchasing an additional 53,000 shares during the period. 68.02% of the stock is currently owned by hedge funds and other institutional investors.

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ImmunoGen Company Profile

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.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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