Shares of ImmunoGen Inc. (NASDAQ:IMGN) traded up 5.4% during trading on Monday . The stock traded as high as $2.91 and last traded at $2.91, with a volume of 658,939 shares changing hands. The stock had previously closed at $2.76.

IMGN has been the topic of several recent research reports. Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of ImmunoGen in a research note on Thursday, May 19th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $5.00 price objective (down from $9.00) on shares of ImmunoGen in a research note on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.59.

The firm’s market cap is $244.68 million. The company has a 50 day moving average of $3.80 and a 200-day moving average of $6.96.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, April 29th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The company earned $19.71 million during the quarter, compared to analysts’ expectations of $23.02 million. During the same quarter in the previous year, the business earned ($0.25) EPS. ImmunoGen’s revenue was up 72.4% compared to the same quarter last year. Equities research analysts anticipate that ImmunoGen Inc. will post ($1.54) earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of 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 period. Rhumbline Advisers boosted 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 last quarter. California State Teachers Retirement System boosted 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 last quarter. Cornerstone Capital Management Holdings LLC. boosted 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 last quarter. Finally, Pinnacle Associates Ltd. boosted 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 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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