ImmunoGen Inc. (IMGN) Trading Up 9.1%
Shares of ImmunoGen Inc. (NASDAQ:IMGN) were up 9.1% during mid-day trading on Friday . The company traded as high as $3.15 and last traded at $3.12, with a volume of 1,288,856 shares changing hands. The stock had previously closed at $2.86.
A number of analysts have issued reports on IMGN shares. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. Zacks Investment Research downgraded shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Leerink Swann boosted their price objective on shares of ImmunoGen from $8.00 to $11.00 and gave the company a “market perform” rating in a report on Monday, May 2nd. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of ImmunoGen in a report on Thursday, May 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.72.
The company’s market capitalization is $270.81 million. The company’s 50-day moving average is $3.02 and its 200 day moving average is $6.33.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.12. The company had revenue of $7.41 million for the quarter, compared to analyst estimates of $17.11 million. The business’s revenue was down 41.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. On average, analysts expect that ImmunoGen Inc. will post ($1.63) earnings per share for the current year.
A number of hedge funds 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 worth $3,090,000 after buying an additional 108,703 shares during the period. Airain ltd increased 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 during the period. 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 worth $1,273,000 after buying an additional 6,255 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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