ImmunoGen, Inc. (NASDAQ:IMGN) Given Average Recommendation of “Hold” by Brokerages

Shares of ImmunoGen, Inc. (NASDAQ:IMGNGet Free Report) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.77.

A number of equities analysts have recently commented on the company. Barclays restated an “equal weight” rating and issued a $31.00 price objective (up from $27.00) on shares of ImmunoGen in a report on Friday, December 1st. Guggenheim downgraded shares of ImmunoGen from a “buy” rating to a “neutral” rating and raised their target price for the company from $25.00 to $31.00 in a research note on Friday, December 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of ImmunoGen in a research note on Thursday, November 9th. They issued a “buy” rating and a $25.00 target price on the stock. HC Wainwright lowered ImmunoGen from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $28.00 to $31.26 in a research report on Thursday, November 30th. Finally, William Blair lowered shares of ImmunoGen from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 30th.

Check Out Our Latest Analysis on ImmunoGen

Insider Buying and Selling

In other news, SVP Theresa Wingrove sold 117,445 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $29.40, for a total value of $3,452,883.00. Following the transaction, the senior vice president now directly owns 2,811 shares in the company, valued at approximately $82,643.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Renee Lentini sold 6,548 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $29.74, for a total transaction of $194,737.52. Following the completion of the transaction, the vice president now owns 8,452 shares of the company’s stock, valued at $251,362.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Theresa Wingrove sold 117,445 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.40, for a total transaction of $3,452,883.00. Following the completion of the sale, the senior vice president now directly owns 2,811 shares in the company, valued at approximately $82,643.40. The disclosure for this sale can be found here. Insiders have sold 311,660 shares of company stock worth $9,210,070 over the last ninety days. 5.07% of the stock is owned by insiders.

Institutional Investors Weigh In On ImmunoGen

Several large investors have recently made changes to their positions in IMGN. Vazirani Asset Management LLC acquired a new stake in ImmunoGen in the 4th quarter valued at approximately $25,000. Parallel Advisors LLC increased its stake in ImmunoGen by 3,028.6% during the 4th 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. Cary Street Partners Investment Advisory LLC acquired a new position in ImmunoGen during the 2nd quarter valued at about $28,000. BluePath Capital Management LLC acquired a new position in ImmunoGen during the 3rd quarter valued at about $35,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in ImmunoGen during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 90.50% of the company’s stock.

ImmunoGen Price Performance

Shares of IMGN opened at $31.23 on Tuesday. The firm has a market cap of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18. The company’s fifty day moving average is $30.15 and its two-hundred day moving average is $22.21. ImmunoGen has a fifty-two week low of $3.61 and a fifty-two week high of $31.25. The company has a quick ratio of 5.65, a current ratio of 5.70 and a debt-to-equity ratio of 0.13.

ImmunoGen Company Profile

(Get Free Report

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.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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