ImmunoGen Inc. (NASDAQ:IMGN)’s share price traded up 3.6% on Wednesday . The stock traded as high as $2.91 and last traded at $2.88, with a volume of 656,518 shares traded. The stock had previously closed at $2.78.

Several equities analysts recently weighed in on the stock. Leerink Swann increased their price target 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. Cowen and Company reiterated a “hold” rating and issued a $8.50 price target on shares of ImmunoGen in a report on Friday, April 29th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price target (down previously from $9.00) on shares of ImmunoGen in a report on Thursday, May 5th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective on shares of ImmunoGen in a research note on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.59.

The stock’s market capitalization is $239.46 million. The stock’s 50 day moving average price is $3.24 and its 200-day moving average price is $6.57.

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

A number of hedge funds and institutional investors have recently bought and sold shares of IMGN. California State Teachers Retirement System increased its position 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 in 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 worth $1,273,000 after buying an additional 6,255 shares in 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 worth $1,120,000 after buying an additional 7,949 shares in 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 in the last quarter. Finally, 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 worth $1,144,000 after buying an additional 46,134 shares in 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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