ImmunoGen Inc. (NASDAQ:IMGN) fell 2.5% during mid-day trading on Tuesday . The company traded as low as $3.10 and last traded at $3.14, with a volume of 335,894 shares traded. The stock had previously closed at $3.22.

A number of brokerages recently issued reports on IMGN. Canaccord Genuity reiterated a “buy” rating on shares of ImmunoGen in a research report on Saturday, April 30th. Royal Bank Of Canada cut shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $18.00 to $7.00 in a research report on Friday, April 29th. Zacks Investment Research lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Cowen and Company reissued a “hold” rating and set a $8.50 price objective on shares of ImmunoGen in a report on Friday, April 29th. Finally, Morgan Stanley reissued an “underweight” rating and set a $5.00 price objective (down previously from $9.00) on shares of ImmunoGen in a report on Thursday, May 5th. One 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 presently has an average rating of “Hold” and an average price target of $11.72.

The stock’s 50-day moving average is $2.98 and its 200 day moving average is $5.93. The firm’s market cap is $269.44 million.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. The company earned $7.41 million during the quarter, compared to analyst estimates of $17.11 million. During the same period in the previous year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was down 41.2% compared to the same quarter last year. On average, equities research analysts expect that ImmunoGen Inc. will post ($1.61) earnings per share for the current fiscal year.

An institutional investor recently raised its position in ImmunoGen stock. Airain ltd increased its position in shares of ImmunoGen Inc. (NASDAQ:IMGN) by 120.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,290 shares of the biotechnology company’s stock after buying an additional 46,134 shares during the period. Airain ltd owned about 0.10% of ImmunoGen worth $1,144,000 as of its most recent SEC filing.

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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