ImmunoGen (NASDAQ:IMGN) had its target price increased by stock analysts at Royal Bank of Canada to $16.00 in a report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 29.87% from the company’s previous close.
Several other analysts have also recently commented on IMGN. BidaskClub upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. HC Wainwright started coverage on shares of ImmunoGen in a research note on Wednesday, January 31st. They issued a “buy” rating on the stock. Zacks Investment Research cut shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, ValuEngine upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $10.79.
Shares of IMGN stock opened at $12.32 on Wednesday. The company has a market cap of $1,596.81, a price-to-earnings ratio of -12.08 and a beta of 2.17. ImmunoGen has a one year low of $2.84 and a one year high of $12.87. The company has a quick ratio of 4.94, a current ratio of 4.95 and a debt-to-equity ratio of -0.11.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to analyst estimates of $39.62 million. The firm’s quarterly revenue was up 185.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) EPS. equities analysts forecast that ImmunoGen will post -1.09 earnings per share for the current year.
In other news, Director Daniel M. Junius sold 46,667 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $10.01, for a total transaction of $467,136.67. Following the sale, the director now directly owns 243,367 shares in the company, valued at approximately $2,436,103.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel M. Junius sold 25,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $11.68, for a total transaction of $292,000.00. Following the sale, the director now owns 196,700 shares in the company, valued at $2,297,456. The disclosure for this sale can be found here. Insiders have sold a total of 232,834 shares of company stock worth $2,534,433 over the last 90 days. Corporate insiders own 6.51% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IMGN. Virginia Retirement Systems ET AL bought a new position in ImmunoGen during the 3rd quarter valued at about $136,000. SG Americas Securities LLC grew its holdings in ImmunoGen by 75.7% during the 4th quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 7,937 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in ImmunoGen during the 3rd quarter valued at about $143,000. Alliance Wealth Management Group grew its holdings in ImmunoGen by 100.0% during the 3rd quarter. Alliance Wealth Management Group now owns 20,000 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in ImmunoGen during the 4th quarter valued at about $149,000. Hedge funds and other institutional investors own 78.25% 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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