ImmunoGen Inc. (IMGN) Trading 2.5% Higher
ImmunoGen Inc. (NASDAQ:IMGN) traded up 2.5% during mid-day trading on Tuesday . The company traded as high as $2.90 and last traded at $2.88, with a volume of 392,452 shares trading hands. The stock had previously closed at $2.81.
A number of equities research analysts have recently issued reports on the stock. Jefferies Group reissued a “buy” rating and set a $6.00 price objective (down previously from $13.00) on shares of ImmunoGen in a research report on Friday, August 5th. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a research report on Wednesday, June 8th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Finally, JPMorgan Chase & Co. set a $5.00 target price on shares of ImmunoGen and gave the stock a “hold” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.72.
The company has a 50 day moving average of $2.93 and a 200 day moving average of $5.18. The company’s market cap is $251.50 million.
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ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. The company earned $7.41 million during the quarter, compared to analysts’ expectations of $17.11 million. ImmunoGen had a negative return on equity of 530.98% and a negative net margin of 239.42%. The company’s quarterly revenue was down 41.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS. On average, equities analysts forecast that ImmunoGen Inc. will post ($1.61) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wrapmanager Inc. boosted its position in ImmunoGen by 9.4% in the first quarter. Wrapmanager Inc. now owns 15,877 shares of the biotechnology company’s stock worth $135,000 after buying an additional 1,368 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of ImmunoGen by 3.6% in the second quarter. Nationwide Fund Advisors now owns 57,383 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 1,999 shares during the period. BB&T Securities LLC boosted its position in shares of ImmunoGen by 10.0% in the first quarter. BB&T Securities LLC now owns 22,727 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 2,065 shares during the period. Legal & General Group Plc boosted its position in shares of ImmunoGen by 13.2% in the first quarter. Legal & General Group Plc now owns 21,724 shares of the biotechnology company’s stock valued at $188,000 after buying an additional 2,538 shares during the period. Finally, Swiss National Bank boosted its position in shares of ImmunoGen by 2.1% in the second quarter. Swiss National Bank now owns 159,400 shares of the biotechnology company’s stock valued at $491,000 after buying an additional 3,300 shares during the period. 91.63% of the stock is owned by institutional investors and hedge funds.
ImmunoGen Company Profile
ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.
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