ImmunoGen Inc. (NASDAQ:IMGN) shares were down 4.5% on Thursday . The company traded as low as $2.79 and last traded at $2.79, with a volume of 856,171 shares. The stock had previously closed at $2.92.

A number of research analysts recently weighed in on IMGN shares. Canaccord Genuity reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Saturday, April 30th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. Finally, Leerink Swann increased their price objective on ImmunoGen from $8.00 to $11.00 and gave the stock 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 given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.59.

The company’s 50 day moving average price is $3.24 and its 200 day moving average price is $6.57. The firm’s market capitalization is $242.94 million.

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

A number of hedge funds have recently bought and sold shares of the stock. Airain ltd boosted its stake in ImmunoGen by 120.9% in the fourth quarter. Airain ltd now owns 84,290 shares of the biotechnology company’s stock valued at $1,144,000 after buying an additional 46,134 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 valued at $3,090,000 after buying an additional 108,703 shares during the last quarter. ProShare Advisors LLC boosted 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. 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 valued at $1,273,000 after buying an additional 6,255 shares during the last quarter. Finally, 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 valued at $2,167,000 after buying an additional 2,537 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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