ImmunoGen Inc. (NASDAQ:IMGN) fell 3.8% on Wednesday . The company traded as low as $2.98 and last traded at $3.02, with a volume of 983,658 shares trading hands. The stock had previously closed at $3.14.

A number of research firms recently weighed in on IMGN. Jefferies Group reaffirmed a “buy” rating and set a $6.00 price target (down from $13.00) on shares of ImmunoGen in a report on Friday, August 5th. Leerink Swann raised 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. Zacks Investment Research raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Cowen and Company reaffirmed a “hold” rating and set a $8.50 price target on shares of ImmunoGen in a report on Friday, April 29th. Finally, Morgan Stanley reaffirmed 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. ImmunoGen currently has an average rating of “Hold” and an average 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 $5.76. The firm’s market cap is $260.66 million.

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

A hedge fund recently raised its stake in ImmunoGen stock. Rhumbline Advisers raised its position in shares of ImmunoGen Inc. (NASDAQ:IMGN) by 7.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 93,829 shares of the biotechnology company’s stock after buying an additional 6,255 shares during the period. Rhumbline Advisers owned about 0.11% of ImmunoGen worth $1,273,000 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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