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

IMGN has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating on shares of ImmunoGen in a report on Saturday, April 30th. Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Cowen and Company restated a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Finally, Leerink Swann boosted their price target on ImmunoGen from $8.00 to $11.00 and gave the company a “market perform” rating in a report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.59.

The company’s market cap is $238.59 million. The company has a 50 day moving average price of $4.00 and a 200 day moving average price of $7.24.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, April 29th. The biotechnology company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The firm had revenue of $19.71 million for the quarter, compared to analyst estimates of $23.02 million. During the same period in the prior year, the firm earned ($0.25) EPS. The company’s revenue for the quarter was up 72.4% on a year-over-year basis. Equities analysts predict that ImmunoGen Inc. will post ($1.54) earnings per share for the current year.

Several large investors recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased 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 valued at $3,090,000 after buying an additional 108,703 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in ImmunoGen by 44.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,768,359 shares of the biotechnology company’s stock valued at $23,997,000 after buying an additional 545,784 shares during the last quarter. ProShare Advisors LLC increased 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 valued at $1,120,000 after buying an additional 7,949 shares during the last quarter. Oxford Asset Management bought a new stake in ImmunoGen during the fourth quarter valued at approximately $2,359,000. Finally, Rhumbline Advisers increased its stake in ImmunoGen by 7.1% in the fourth quarter. Rhumbline Advisers now owns 93,829 shares of the biotechnology company’s stock valued at $1,273,000 after buying an additional 6,255 shares during the last quarter.

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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