HC Wainwright assumed coverage on shares of ImmunoGen (NASDAQ:IMGN) in a research note issued to investors on Wednesday, January 31st, Marketbeat.com reports. The brokerage issued a buy rating on the biotechnology company’s stock.
Other analysts have also issued research reports about the company. Cantor Fitzgerald restated a hold rating and set a $5.00 target price on shares of ImmunoGen in a report on Friday, November 3rd. BidaskClub raised ImmunoGen from a hold rating to a buy rating in a research report on Thursday, January 18th. Jefferies Group reissued a buy rating and issued a $9.00 target price on shares of ImmunoGen in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised 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, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $9.10.
ImmunoGen (IMGN) opened at $10.15 on Wednesday. ImmunoGen has a 12-month low of $2.31 and a 12-month high of $10.66. The stock has a market capitalization of $1,340.00, a P/E ratio of -9.95 and a beta of 2.50. The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $39.62 million. The business’s revenue for the quarter was up 185.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.39) EPS. equities research analysts forecast that ImmunoGen will post -1.01 EPS for the current fiscal year.
In related news, Director Daniel M. Junius sold 46,667 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $10.01, for a total value of $467,136.67. Following the transaction, the director now directly owns 243,367 shares of the company’s stock, valued at approximately $2,436,103.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.51% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in IMGN. Schwab Charles Investment Management Inc. raised its holdings in ImmunoGen by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after acquiring an additional 1,919 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ImmunoGen by 31.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 577,840 shares of the biotechnology company’s stock valued at $4,108,000 after acquiring an additional 138,923 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in ImmunoGen by 3.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 252,260 shares of the biotechnology company’s stock valued at $1,794,000 after acquiring an additional 7,658 shares during the last quarter. Vanguard Group Inc. raised its holdings in ImmunoGen by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,248,688 shares of the biotechnology company’s stock valued at $30,209,000 after acquiring an additional 138,257 shares during the last quarter. Finally, FMR LLC raised its holdings in ImmunoGen by 598.9% in the 2nd quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after acquiring an additional 4,803,256 shares during the last quarter. Institutional investors own 67.97% of the company’s stock.
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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.
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