ImmunoGen Inc. (NASDAQ:IMGN) traded up 2.5% during mid-day trading on Tuesday . The company traded as high as $2.90 and last traded at $2.88, with a volume of 392,452 shares trading hands. The stock had previously closed at $2.81.

A number of equities research analysts recently issued reports on the stock. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. JPMorgan Chase & Co. set a $5.00 price objective on ImmunoGen and gave the company a “hold” rating in a report on Friday, August 5th. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Finally, Jefferies Group restated a “buy” rating and issued a $6.00 price objective (down previously from $13.00) on shares of ImmunoGen in a report on Friday, August 5th. 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. The company has an average rating of “Hold” and a consensus target price of $10.99.

The company has a 50-day moving average price of $2.92 and a 200 day moving average price of $5.12. The company’s market capitalization is $251.50 million.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. ImmunoGen had a negative return on equity of 530.98% and a negative net margin of 239.42%. The business had revenue of $7.41 million for the quarter, compared to analysts’ expectations of $17.11 million. During the same quarter last year, the company posted ($0.35) earnings per share. The business’s quarterly revenue was down 41.2% compared to the same quarter last year. On average, analysts predict that ImmunoGen Inc. will post ($1.61) EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the company. Wrapmanager Inc. increased its position in ImmunoGen by 9.4% in the first quarter. Wrapmanager Inc. now owns 15,877 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 1,368 shares during the period. Nationwide Fund Advisors increased its position in ImmunoGen by 3.6% in the second quarter. Nationwide Fund Advisors now owns 57,383 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 1,999 shares during the period. BB&T Securities LLC increased its position in ImmunoGen by 10.0% in the first quarter. BB&T Securities LLC now owns 22,727 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 2,065 shares during the period. Legal & General Group Plc increased its position in ImmunoGen by 13.2% in the first quarter. Legal & General Group Plc now owns 21,724 shares of the biotechnology company’s stock valued at $188,000 after buying an additional 2,538 shares during the period. Finally, Swiss National Bank increased its position in ImmunoGen by 2.1% in the second quarter. Swiss National Bank now owns 159,400 shares of the biotechnology company’s stock valued at $491,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.

ImmunoGen Company Profile

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.

5 Day Chart for NASDAQ:IMGN

Receive News & Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.