ImmunoGen Inc. (IMGN) Trading Up 3%
ImmunoGen Inc. (NASDAQ:IMGN)’s share price was up 3% during trading on Friday . The stock traded as high as $3.14 and last traded at $3.08, with a volume of 482,286 shares changing hands. The stock had previously closed at $2.99.
Several equities analysts have commented on IMGN shares. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research report on Monday, June 6th. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Leerink Swann lifted their price target on ImmunoGen from $8.00 to $11.00 and gave the stock a “market perform” rating in a research report on Monday, May 2nd. JPMorgan Chase & Co. set a $5.00 price target on ImmunoGen and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a research report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. ImmunoGen currently has a consensus rating of “Hold” and a consensus price target of $11.72.
The firm’s market capitalization is $276.46 million. The firm has a 50-day moving average price of $2.98 and a 200 day moving average price of $6.12.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results 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. During the same quarter last year, the firm earned ($0.35) earnings per share. The firm earned $7.41 million during the quarter, compared to analyst estimates of $17.11 million. The company’s quarterly revenue was down 41.2% on a year-over-year basis. On average, equities research analysts forecast that ImmunoGen Inc. will post ($1.61) earnings per share for the current year.
Other institutional investors have recently bought and sold shares of the company. Airain ltd increased its position 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 last quarter. Rhumbline Advisers increased its position 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. Finally, Cornerstone Capital Management Holdings LLC. increased its position 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.
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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