ImmunoGen, Inc. (NASDAQ:IMGN)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a research report issued on Monday. They presently have a $9.00 target price on the biotechnology company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 60.43% from the stock’s previous close.

A number of other research firms also recently commented on IMGN. William Blair restated an “outperform” rating on shares of ImmunoGen in a research report on Monday, June 26th. Cantor Fitzgerald set a $5.00 price target on shares of ImmunoGen and gave the stock a “hold” rating in a research report on Sunday, June 4th. BidaskClub downgraded shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Tuesday, June 27th. Finally, Canaccord Genuity set a $6.00 price target on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.72.

ImmunoGen (IMGN) opened at 5.61 on Monday. The firm’s market capitalization is $489.05 million. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $8.04. The firm’s 50-day moving average is $6.27 and its 200 day moving average is $4.27.

ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. During the same quarter last year, the firm posted ($0.53) earnings per share. The firm’s quarterly revenue was up 426.6% compared to the same quarter last year. Equities analysts predict that ImmunoGen will post ($0.84) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Jefferies Group LLC Reaffirms “Buy” Rating for ImmunoGen, Inc. (IMGN)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/07/jefferies-group-llc-reaffirms-buy-rating-for-immunogen-inc-imgn.html.

Several institutional investors have recently made changes to their positions in IMGN. Clearbridge Investments LLC boosted its position in shares of ImmunoGen by 6.5% in the first quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock valued at $55,840,000 after buying an additional 884,524 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ImmunoGen by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after buying an additional 27,141 shares in the last quarter. Redmile Group LLC acquired a new position in shares of ImmunoGen during the first quarter valued at about $15,421,000. Norges Bank acquired a new position in shares of ImmunoGen during the fourth quarter valued at about $3,123,000. Finally, State Street Corp boosted its position in shares of ImmunoGen by 3.1% in the fourth quarter. State Street Corp now owns 1,526,398 shares of the biotechnology company’s stock valued at $3,115,000 after buying an additional 45,628 shares in the last quarter. 74.38% of the stock is currently owned by institutional investors.

About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

Receive News & Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.