ImmunoGen Inc. (NASDAQ:IMGN) rose 2.6% during trading on Monday . The stock traded as high as $3.12 and last traded at $3.10, with a volume of 763,642 shares changing hands. The stock had previously closed at $3.02.

IMGN has been the topic of several recent analyst reports. Canaccord Genuity restated a “buy” rating on shares of ImmunoGen in a research note on Saturday, April 30th. Jefferies Group reiterated a “buy” rating and set a $6.00 price target (down previously from $13.00) on shares of ImmunoGen in a research report on Friday, August 5th. Cantor Fitzgerald reiterated a “hold” rating on shares of ImmunoGen in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a research report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. ImmunoGen presently has a consensus rating of “Hold” and an average price target of $11.72.

The stock’s market capitalization is $272.95 million. The firm has a 50 day moving average of $2.97 and a 200 day moving average of $5.81.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.39) by $0.12. The business earned $7.41 million during the quarter, compared to analysts’ expectations of $17.11 million. ImmunoGen’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) EPS. Equities analysts anticipate that ImmunoGen Inc. will post ($1.61) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in ImmunoGen stock. Airain ltd increased its position in ImmunoGen Inc. (NASDAQ:IMGN) by 120.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 84,290 shares of the biotechnology company’s stock after buying an additional 46,134 shares during the period. Airain ltd owned 0.10% of ImmunoGen worth $1,144,000 at the end of the most recent reporting 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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