ValuEngine upgraded shares of ImmunoGen (NASDAQ:IMGN) from a sell rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.
Other equities analysts also recently issued reports about the company. BidaskClub raised ImmunoGen from a strong sell rating to a sell rating in a research report on Saturday, July 6th. Guggenheim downgraded ImmunoGen from a buy rating to a neutral rating in a research report on Wednesday, May 15th. Zacks Investment Research lowered shares of ImmunoGen from a buy rating to a hold rating in a report on Wednesday, May 8th. HC Wainwright set a $4.00 price target on shares of ImmunoGen and gave the company a buy rating in a report on Friday, June 28th. Finally, Cowen reaffirmed a buy rating on shares of ImmunoGen in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. ImmunoGen presently has an average rating of Hold and a consensus price target of $3.03.
Shares of NASDAQ IMGN traded down $0.05 during mid-day trading on Thursday, hitting $2.24. The stock had a trading volume of 2,854,714 shares, compared to its average volume of 2,327,614. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.72 and a current ratio of 4.72. The stock’s 50 day moving average price is $2.23. ImmunoGen has a twelve month low of $1.76 and a twelve month high of $10.37. The stock has a market cap of $342.43 million, a price-to-earnings ratio of -1.90 and a beta of 2.30.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, August 2nd. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.03. ImmunoGen had a negative return on equity of 573.13% and a negative net margin of 406.27%. The firm had revenue of $15.54 million for the quarter, compared to the consensus estimate of $10.33 million. On average, equities research analysts expect that ImmunoGen will post -0.96 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of IMGN. Redmile Group LLC boosted its holdings in ImmunoGen by 20.0% in the first quarter. Redmile Group LLC now owns 13,063,767 shares of the biotechnology company’s stock valued at $35,403,000 after purchasing an additional 2,179,160 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of ImmunoGen by 154.6% during the 4th quarter. Deutsche Bank AG now owns 1,242,243 shares of the biotechnology company’s stock worth $5,962,000 after acquiring an additional 754,366 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of ImmunoGen by 76.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,607,596 shares of the biotechnology company’s stock worth $4,357,000 after acquiring an additional 698,820 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of ImmunoGen by 5.5% during the 1st quarter. Clearbridge Investments LLC now owns 8,870,628 shares of the biotechnology company’s stock worth $24,039,000 after acquiring an additional 464,147 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ImmunoGen during the 4th quarter worth about $2,056,000. 78.64% of the stock is currently owned by institutional investors.
ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.
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