ImmunoGen, Inc. (NASDAQ:IMGN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.77.

Separately, StockNews.com started coverage on ImmunoGen in a research note on Wednesday, April 10th. They set a “hold” rating for the company.

ImmunoGen Stock Performance

Shares of NASDAQ:IMGN opened at $31.23 on Wednesday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of -100.74 and a beta of 1.18. ImmunoGen has a 1-year low of $3.61 and a 1-year high of $31.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.65 and a current ratio of 5.70. The company has a 50 day moving average price of $31.16 and a 200 day moving average price of $25.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vazirani Asset Management LLC bought a new stake in ImmunoGen in the fourth quarter valued at approximately $25,000. Parallel Advisors LLC raised its stake in ImmunoGen by 3,028.6% in the fourth quarter. Parallel Advisors LLC now owns 876 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 848 shares during the period. BluePath Capital Management LLC bought a new stake in ImmunoGen in the third quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of ImmunoGen during the fourth quarter worth approximately $46,000. Finally, Bank of Montreal Can bought a new position in shares of ImmunoGen during the second quarter worth approximately $47,000. 90.50% of the stock is owned by institutional investors and hedge funds.

About ImmunoGen

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.