Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have earned an average rating of "Hold" from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.
IMGN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of ImmunoGen from a "hold" rating to a "sell" rating and set a $9.50 price objective for the company. in a research report on Thursday, February 18th. TheStreet cut shares of ImmunoGen from a "c" rating to a "d+" rating in a research report on Friday, March 26th. HC Wainwright increased their price objective on shares of ImmunoGen from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, February 16th. Finally, William Blair restated an "outperform" rating on shares of ImmunoGen in a report on Monday, May 10th.
A number of large investors have recently bought and sold shares of IMGN. Fisher Asset Management LLC lifted its stake in shares of ImmunoGen by 3.7% in the first quarter. Fisher Asset Management LLC now owns 41,942 shares of the biotechnology company's stock valued at $340,000 after buying an additional 1,487 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of ImmunoGen by 7.8% in the fourth quarter. Scotia Capital Inc. now owns 21,860 shares of the biotechnology company's stock valued at $141,000 after buying an additional 1,582 shares in the last quarter. Fernwood Investment Management LLC lifted its stake in shares of ImmunoGen by 1.3% in the first quarter. Fernwood Investment Management LLC now owns 151,340 shares of the biotechnology company's stock valued at $1,226,000 after buying an additional 2,000 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of ImmunoGen by 21.5% in the first quarter. MML Investors Services LLC now owns 14,249 shares of the biotechnology company's stock valued at $115,000 after buying an additional 2,517 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of ImmunoGen by 193.3% in the fourth quarter. Penserra Capital Management LLC now owns 4,370 shares of the biotechnology company's stock valued at $28,000 after buying an additional 2,880 shares in the last quarter. Institutional investors and hedge funds own 91.37% of the company's stock.
Shares of NASDAQ IMGN opened at $6.48 on Friday. ImmunoGen has a 52-week low of $3.38 and a 52-week high of $10.88. The company has a 50 day simple moving average of $7.02. The firm has a market cap of $1.30 billion, a PE ratio of -23.14 and a beta of 1.36.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Monday, May 10th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.19) by $0.02. ImmunoGen had a negative net margin of 36.62% and a negative return on equity of 169.72%. The company had revenue of $15.70 million during the quarter, compared to analysts' expectations of $17.52 million. ImmunoGen's revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that ImmunoGen will post -0.75 earnings per share for the current fiscal year.
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; 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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