ImmunoGen, Inc. (IMGN) Rating Reiterated by Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of ImmunoGen, Inc. (NASDAQ:IMGN) in a research note published on Thursday morning. They currently have a $9.00 price objective on the biotechnology company’s stock.
A number of other brokerages also recently issued reports on IMGN. Zacks Investment Research downgraded ImmunoGen from a hold rating to a sell rating in a research note on Monday, July 10th. Cowen and Company reissued a hold rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Canaccord Genuity reissued a buy rating and set a $10.00 target price (up from $8.00) on shares of ImmunoGen in a research note on Wednesday, August 30th. Royal Bank Of Canada raised ImmunoGen from a sector perform rating to an outperform rating and increased their target price for the stock from $5.00 to $12.00 in a research note on Thursday, July 6th. Finally, Cantor Fitzgerald set a $5.00 target price on ImmunoGen and gave the stock a hold rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. ImmunoGen presently has a consensus rating of Hold and an average target price of $8.05.
Shares of ImmunoGen (NASDAQ IMGN) opened at 5.97 on Thursday. The stock’s market capitalization is $534.89 million. The stock has a 50 day moving average price of $7.13 and a 200-day moving average price of $5.68. ImmunoGen has a 52-week low of $1.51 and a 52-week high of $8.84.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to analysts’ expectations of $30.59 million. The business’s quarterly revenue was up 426.6% on a year-over-year basis. During the same period last year, the company posted ($0.53) earnings per share. On average, equities research analysts anticipate that ImmunoGen will post ($0.73) EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “ImmunoGen, Inc. (IMGN) Rating Reiterated by Jefferies Group LLC” was first posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.dailypolitical.com/2017/10/15/immunogen-inc-imgn-rating-reiterated-by-jefferies-group-llc.html.
In related news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 51,100 shares of the company’s stock, valued at approximately $355,145. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its stake in ImmunoGen by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock valued at $55,840,000 after purchasing an additional 884,524 shares in the last quarter. FMR LLC increased its stake in ImmunoGen by 598.9% in the 2nd quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after purchasing an additional 4,803,256 shares in the last quarter. Redmile Group LLC increased its stake in ImmunoGen by 30.8% in the 2nd quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock valued at $37,063,000 after purchasing an additional 1,228,002 shares in the last quarter. Vanguard Group Inc. increased its stake in ImmunoGen by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,248,688 shares of the biotechnology company’s stock valued at $30,209,000 after purchasing an additional 138,257 shares in the last quarter. Finally, State Street Corp increased its stake in ImmunoGen by 159.1% in the 2nd quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock valued at $29,450,000 after purchasing an additional 2,542,876 shares in the last quarter. 65.66% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.