ImmunoGen Inc. (IMGN) Stock Price Down 2.6%
ImmunoGen Inc. (NASDAQ:IMGN) fell 2.6% during mid-day trading on Monday . The company traded as low as $3.02 and last traded at $3.03, with a volume of 1,301,498 shares traded. The stock had previously closed at $3.11.
A number of brokerages recently issued reports on IMGN. Jefferies Group reiterated a “buy” rating and issued a $6.00 price objective (down from $13.00) on shares of ImmunoGen in a report on Friday. Leerink Swann upped their price target on shares of ImmunoGen from $8.00 to $11.00 and gave the company a “market perform” rating in a report on Monday, May 2nd. Cowen and Company restated a “hold” rating and set a $8.50 price target on shares of ImmunoGen in a report on Friday, April 29th. Morgan Stanley restated an “underweight” rating and set a $5.00 price target (down from $9.00) on shares of ImmunoGen in a report on Thursday, May 5th. Finally, Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. ImmunoGen presently has an average rating of “Hold” and an average price target of $11.72.
The company’s 50-day moving average price is $3.00 and its 200 day moving average price is $6.21. The company’s market capitalization is $265.92 million.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.12. The company had revenue of $7.41 million for the quarter, compared to analyst estimates of $17.11 million. The firm’s revenue for the quarter was down 41.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) EPS. On average, equities research analysts forecast that ImmunoGen Inc. will post ($1.61) EPS for the current fiscal year.
Other large investors recently modified their holdings of the company. 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 worth $1,144,000 after buying an additional 46,134 shares during the last quarter. 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 last quarter. Finally, 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 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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