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Immunogen (NASDAQ:IMGN)’s share price hit a new 52-week low during trading on Friday , American Banking News reports. The stock traded as low as $10.44 and last traded at $10.55, with a volume of 548,541 shares changing hands. The stock had previously closed at $10.89.

Separately, analysts at Morgan Stanley initiated coverage on shares of Immunogen in a research note on Wednesday, June 25th. They set an “underweight” rating and a $10.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $17.83.

The stock’s 50-day moving average is $11.95 and its 200-day moving average is $13.77. The company’s market cap is $912.2 million.

ImmunoGen, Inc (NASDAQ:IMGN) develops targeted, antibody-based therapeutics for the treatment of cancer.

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