ImmunoGen Inc. (NASDAQ:IMGN) reached a new 52-week low on Wednesday . The stock traded as low as $2.87 and last traded at $2.92, with a volume of 631,287 shares traded. The stock had previously closed at $2.97.

IMGN has been the topic of several analyst reports. Canaccord Genuity reiterated a “buy” rating on shares of ImmunoGen in a report on Saturday, April 30th. Cantor Fitzgerald reiterated a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Leerink Swann increased their target price on shares of ImmunoGen from $8.00 to $11.00 and gave the stock a “market perform” rating in a report on Monday, May 2nd. Finally, Royal Bank Of Canada lowered shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $18.00 to $7.00 in a report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.59.

The firm’s 50-day moving average price is $4.17 and its 200-day moving average price is $7.31. The firm’s market capitalization is $255.13 million.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, April 29th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.06. The business had revenue of $19.71 million for the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter last year, the firm earned ($0.25) earnings per share. ImmunoGen’s revenue was up 72.4% on a year-over-year basis. On average, analysts forecast that ImmunoGen Inc. will post ($1.54) EPS for the current year.

Several large investors have recently bought and sold shares of IMGN. California State Teachers Retirement System raised its stake in ImmunoGen by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 159,672 shares of the biotechnology company’s stock worth $2,167,000 after buying an additional 2,537 shares in the last quarter. Rhumbline Advisers raised its stake in ImmunoGen by 7.1% in the fourth quarter. Rhumbline Advisers now owns 93,829 shares of the biotechnology company’s stock worth $1,273,000 after buying an additional 6,255 shares in the last quarter. ProShare Advisors LLC raised its stake in ImmunoGen by 10.7% in the fourth quarter. ProShare Advisors LLC now owns 82,498 shares of the biotechnology company’s stock worth $1,120,000 after buying an additional 7,949 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in ImmunoGen by 91.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 227,703 shares of the biotechnology company’s stock worth $3,090,000 after buying an additional 108,703 shares in the last quarter. Finally, Oxford Asset Management purchased a new stake in ImmunoGen during the fourth quarter worth approximately $2,359,000.

ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.

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