ImmunoGen Inc. (IMGN) Shares Up 3%
Shares of ImmunoGen Inc. (NASDAQ:IMGN) shot up 3% on Friday . The company traded as high as $3.14 and last traded at $3.08, with a volume of 482,286 shares trading hands. The stock had previously closed at $2.99.
A number of research firms have weighed in on IMGN. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Jefferies Group restated a “buy” rating and set a $6.00 price objective (down from $13.00) on shares of ImmunoGen in a research note on Friday, August 5th. JPMorgan Chase & Co. set a $5.00 price objective on shares of ImmunoGen and gave the company a “hold” rating in a research note on Friday, August 5th. Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Finally, Cowen and Company restated a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $11.72.
The stock has a 50-day moving average price of $2.97 and a 200-day moving average price of $6.07. The firm’s market cap is $276.46 million.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.12. The company had revenue of $7.41 million for the quarter, compared to the consensus estimate of $17.11 million. During the same period in the previous year, the business posted ($0.35) earnings per share. ImmunoGen’s revenue for the quarter was down 41.2% compared to the same quarter last year. On average, analysts expect that ImmunoGen Inc. will post ($1.61) EPS for the current year.
Other hedge funds have added to or reduced their stakes in the company. Airain ltd raised its stake 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 period. Rhumbline Advisers raised its stake in 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. Finally, Cornerstone Capital Management Holdings LLC. raised its stake 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 valued at $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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