ImmunoGen Inc. (NASDAQ:IMGN)’s share price was down 3% during mid-day trading on Tuesday . The stock traded as low as $2.95 and last traded at $2.96, with a volume of 1,181,708 shares changing hands. The stock had previously closed at $3.05.

Several equities analysts recently issued reports on IMGN shares. 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 shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. Finally, Leerink Swann lifted their price target on shares of ImmunoGen from $8.00 to $11.00 and gave the company a “market perform” rating in a research note on Monday, May 2nd. 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’s stock. ImmunoGen currently has an average rating of “Hold” and an average target price of $12.59.

The firm’s market capitalization is $244.68 million. The company has a 50 day moving average of $3.83 and a 200-day moving average of $6.99.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results 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. During the same period in the previous year, the company earned ($0.25) EPS. The business earned $19.71 million during the quarter, compared to the consensus estimate of $23.02 million. ImmunoGen’s revenue was up 72.4% compared to the same quarter last year. On average, analysts anticipate that ImmunoGen Inc. will post ($1.54) EPS for the current year.

Several large investors recently bought and sold shares of IMGN. 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 during the period. Pinnacle Associates Ltd. raised 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 worth $23,997,000 after buying an additional 545,784 shares during the period. 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 during the period. 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 during the period. Finally, 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 during the period.

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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