ImmunoGen Inc. (IMGN) Trading Up 9.1%
ImmunoGen Inc. (NASDAQ:IMGN)’s share price was 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 traded. The stock had previously closed at $2.86.
A number of equities analysts have issued reports on IMGN shares. Canaccord Genuity reaffirmed a “buy” rating on shares of ImmunoGen in a report on Saturday, April 30th. Jefferies Group lowered their target price on ImmunoGen from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. set a $5.00 target price on ImmunoGen and gave the stock a “hold” rating in a report on Friday. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Finally, Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.72.
The firm’s market cap is $270.81 million. The company’s 50 day moving average is $3.01 and its 200 day moving average is $6.30.
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 the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. The company earned $7.41 million during the quarter, compared to the consensus estimate of $17.11 million. The business’s revenue for the quarter was down 41.2% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. Equities research analysts forecast that ImmunoGen Inc. will post ($1.61) earnings per share for the current year.
A number of large investors have recently modified their holdings of IMGN. Rhumbline Advisers raised its stake in shares of 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 period. Cornerstone Capital Management Holdings LLC. raised its stake in shares of 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 period. Finally, Airain ltd raised its stake in shares of 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 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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