Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been given a consensus rating of “Buy” by the twelve ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $14.60.
Several equities analysts have commented on IMGN shares. William Blair reissued an “outperform” rating on shares of ImmunoGen in a research report on Monday, October 22nd. BidaskClub raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Guggenheim started coverage on shares of ImmunoGen in a research report on Monday, September 17th. They issued a “buy” rating for the company. Finally, Piper Jaffray Companies started coverage on shares of ImmunoGen in a research report on Thursday, September 6th. They issued an “overweight” rating for the company.
In other news, Director Mark Alan Goldberg acquired 30,000 shares of ImmunoGen stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average cost of $5.76 per share, for a total transaction of $172,800.00. Following the acquisition, the director now owns 53,800 shares of the company’s stock, valued at $309,888. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Anna Berkenblit sold 5,851 shares of the firm’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $46,808.00. Following the completion of the sale, the vice president now owns 132,769 shares in the company, valued at $1,062,152. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB raised its holdings in shares of ImmunoGen by 29.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 24,100 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 5,500 shares in the last quarter. Amalgamated Bank raised its holdings in shares of ImmunoGen by 46.3% in the 2nd quarter. Amalgamated Bank now owns 19,529 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 6,183 shares in the last quarter. United Services Automobile Association raised its holdings in shares of ImmunoGen by 39.1% in the 2nd quarter. United Services Automobile Association now owns 22,945 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 6,455 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of ImmunoGen by 75.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 6,763 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of ImmunoGen by 25.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 42,193 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 8,543 shares in the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.
IMGN stock traded down $0.07 during midday trading on Friday, hitting $5.47. The company’s stock had a trading volume of 2,254,600 shares, compared to its average volume of 2,634,698. The company has a quick ratio of 4.56, a current ratio of 4.59 and a debt-to-equity ratio of 0.04. ImmunoGen has a 52-week low of $5.11 and a 52-week high of $13.41. The stock has a market capitalization of $825.96 million, a PE ratio of -7.29 and a beta of 2.56.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, November 2nd. The biotechnology company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.01. ImmunoGen had a negative net margin of 176.35% and a negative return on equity of 673.66%. The company had revenue of $10.90 million during the quarter, compared to analysts’ expectations of $13.60 million. During the same quarter last year, the company posted ($0.61) EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. Analysts expect that ImmunoGen will post -1.24 EPS for the current fiscal year.
ImmunoGen Company Profile
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.
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