ImmunoGen, Inc. (IMGN) Downgraded to Sell at ValuEngine
ValuEngine downgraded shares of ImmunoGen, Inc. (NASDAQ:IMGN) from a hold rating to a sell rating in a report released on Thursday morning.
A number of other research firms also recently issued reports on IMGN. Cowen and Company restated a hold rating on shares of ImmunoGen in a research report on Tuesday, August 29th. William Blair restated an outperform rating on shares of ImmunoGen in a research report on Monday, June 26th. Cantor Fitzgerald set a $5.00 target price on shares of ImmunoGen and gave the company a hold rating in a research report on Sunday, June 4th. BidaskClub downgraded shares of ImmunoGen from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of ImmunoGen from a hold rating to a buy rating and set a $7.75 target price on the stock in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $8.01.
ImmunoGen (IMGN) opened at 6.55 on Thursday. The firm’s market cap is $586.86 million. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.84. The stock has a 50 day moving average of $6.59 and a 200 day moving average of $5.25.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to analyst estimates of $30.59 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The business’s revenue for the quarter was up 426.6% on a year-over-year basis. Analysts anticipate that ImmunoGen will post ($0.74) EPS for the current year.
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In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the sale, the vice president now directly owns 51,100 shares of the company’s stock, valued at approximately $355,145. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.51% of the company’s stock.
Several hedge funds have recently made changes to their positions in IMGN. Teachers Advisors LLC increased its stake in shares of ImmunoGen by 10.6% in the 4th quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock valued at $428,000 after acquiring an additional 20,171 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of ImmunoGen in the 1st quarter valued at about $117,000. Janney Montgomery Scott LLC increased its stake in shares of ImmunoGen by 11.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,815 shares of the biotechnology company’s stock valued at $228,000 after acquiring an additional 5,893 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ImmunoGen by 15.4% in the 1st quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company’s stock valued at $1,698,000 after acquiring an additional 58,516 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of ImmunoGen by 148.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 68,097 shares of the biotechnology company’s stock valued at $264,000 after acquiring an additional 40,700 shares during the last quarter. 84.64% of the stock is owned by institutional investors.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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