ImmunoGen (NASDAQ:IMGN) received a $18.00 price target from equities researchers at HC Wainwright in a research note issued to investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 70.62% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, October 31st. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Cantor Fitzgerald reiterated a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a report on Friday, November 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price objective on shares of ImmunoGen in a report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.10.
Shares of ImmunoGen (NASDAQ:IMGN) traded up $1.64 on Monday, hitting $10.55. The stock had a trading volume of 5,989,201 shares, compared to its average volume of 3,343,976. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of -0.03. ImmunoGen has a twelve month low of $2.31 and a twelve month high of $10.66. The firm has a market capitalization of $1,178.35, a price-to-earnings ratio of -8.74 and a beta of 2.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. Schwab Charles Investment Management Inc. increased its holdings in shares of ImmunoGen by 0.6% in 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 in the last quarter. Royal Bank of Canada increased its holdings in shares of ImmunoGen by 789.0% in 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 in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of ImmunoGen by 124.7% in 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 in the last quarter. OxFORD Asset Management LLP bought a new stake in shares of ImmunoGen in the second quarter worth about $506,000. Finally, Bank of Nova Scotia bought a new stake in shares of ImmunoGen in the second quarter worth about $591,000. Institutional investors and hedge funds own 67.97% of the company’s stock.
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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.
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