ImmunoGen Inc. (NASDAQ:IMGN) dropped 1.1% during trading on Friday . The company traded as low as $2.75 and last traded at $2.77, with a volume of 329,468 shares changing hands. The stock had previously closed at $2.80.

IMGN has been the subject of a number of recent analyst reports. Jefferies Group reiterated 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. Cantor Fitzgerald restated a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. set a $5.00 price target on ImmunoGen and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Cowen and Company restated a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. One 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’s stock. ImmunoGen currently has a consensus rating of “Hold” and an average target price of $11.72.

The company’s 50-day moving average is $2.94 and its 200 day moving average is $5.57. The company’s market capitalization is $240.15 million.

ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ 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. The company’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Equities analysts predict that ImmunoGen Inc. will post ($1.61) EPS for the current fiscal year.

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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