ImmunoGen Inc. (IMGN) Trading Down 1.4%
ImmunoGen Inc. (NASDAQ:IMGN) fell 1.4% during trading on Wednesday . The company traded as low as $2.79 and last traded at $2.84, with a volume of 564,747 shares. The stock had previously closed at $2.88.
A number of research firms recently commented on IMGN. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating and issued a $6.00 price target (down previously from $13.00) on shares of ImmunoGen in a report on Friday, August 5th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. JPMorgan Chase & Co. set a $5.00 price target on shares of ImmunoGen and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. ImmunoGen presently has a consensus rating of “Hold” and an average price target of $11.72.
The company’s 50-day moving average price is $2.92 and its 200-day moving average price is $5.12. The stock’s market capitalization 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) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. ImmunoGen had a negative net margin of 239.42% and a negative return on equity of 530.98%. The firm had revenue of $7.41 million for the quarter, compared to analysts’ expectations of $17.11 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The company’s quarterly revenue was down 41.2% compared to the same quarter last year. Equities research analysts anticipate that ImmunoGen Inc. will post ($1.61) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of IMGN. Norges Bank bought a new stake in shares of ImmunoGen during the fourth quarter valued at about $20,773,000. Fisher Asset Management LLC bought a new stake in shares of ImmunoGen during the first quarter valued at about $2,244,000. Ngam Advisors L.P. boosted its stake in shares of ImmunoGen by 21.6% in the first quarter. Ngam Advisors L.P. now owns 188,207 shares of the biotechnology company’s stock valued at $1,604,000 after buying an additional 33,377 shares in the last quarter. Wrapmanager Inc. boosted its stake in shares of ImmunoGen by 9.4% in the first quarter. Wrapmanager Inc. now owns 15,877 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 1,368 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of ImmunoGen by 10.9% in the first quarter. BlackRock Group LTD now owns 96,428 shares of the biotechnology company’s stock valued at $821,000 after buying an additional 9,496 shares in the last quarter. Institutional investors own 91.63% of the company’s stock.
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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