ImmunoGen (NASDAQ:IMGN) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, March 30th. HC Wainwright set a $18.00 price objective on shares of ImmunoGen and gave the company a “buy” rating in a research note on Tuesday, April 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price objective on shares of ImmunoGen in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $12.42.
ImmunoGen opened at $12.15 on Friday, MarketBeat.com reports. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -16.20 and a beta of 2.14. The company has a debt-to-equity ratio of -0.06, a quick ratio of 3.73 and a current ratio of 3.74. ImmunoGen has a 12-month low of $4.80 and a 12-month high of $13.41.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, May 4th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.03). The business had revenue of $19.80 million for the quarter, compared to the consensus estimate of $15.04 million. The company’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. analysts forecast that ImmunoGen will post -1.14 earnings per share for the current year.
In other news, CFO David Brannon Johnston sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $11.02, for a total transaction of $110,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.44% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. increased its position in ImmunoGen by 150.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 10,000 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 6,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ImmunoGen by 198.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,144 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 7,411 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in ImmunoGen during the 1st quarter worth approximately $126,000. Element Capital Management LLC acquired a new stake in ImmunoGen during the 1st quarter worth approximately $181,000. Finally, SG Americas Securities LLC increased its position in ImmunoGen by 75.7% during the 4th quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 7,937 shares in the last quarter. 78.39% of the stock is owned by institutional investors.
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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