Royal Bank of Canada Reaffirms “Outperform” Rating for ImmunoGen (IMGN)

ImmunoGen (NASDAQ:IMGN)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Thursday. They currently have a $12.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 36.99% from the stock’s current price.

IMGN has been the topic of a number of other research reports. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Tuesday, October 31st. Jefferies Group reiterated a “buy” rating and set a $9.00 price objective on shares of ImmunoGen in a research report on Thursday, October 12th. Cantor Fitzgerald reiterated a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a research report on Friday, November 3rd. HC Wainwright assumed coverage on ImmunoGen in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Finally, BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. ImmunoGen currently has an average rating of “Buy” and a consensus price target of $7.83.

Shares of ImmunoGen (IMGN) traded down $0.25 during trading on Thursday, reaching $8.76. The company had a trading volume of 4,243,525 shares, compared to its average volume of 2,980,000. ImmunoGen has a 52-week low of $2.30 and a 52-week high of $10.04. The stock has a market capitalization of $1,360.00, a P/E ratio of -6.74 and a beta of 2.50. The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81.

Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its stake in ImmunoGen by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock worth $2,360,000 after acquiring an additional 1,919 shares during the last quarter. Royal Bank of Canada increased its stake in ImmunoGen by 789.0% during the second quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock worth $1,098,000 after acquiring an additional 137,061 shares during the last quarter. Chicago Equity Partners LLC increased its stake in ImmunoGen by 124.7% during the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after acquiring an additional 272,315 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in ImmunoGen during the second quarter worth $506,000. Finally, Bank of Nova Scotia acquired a new stake in ImmunoGen during the second quarter worth $591,000. 67.88% of the stock is owned by institutional investors.

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ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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)

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