HC Wainwright assumed coverage on shares of ImmunoGen (NASDAQ:IMGN) in a report issued on Wednesday, January 31st, Marketbeat.com reports. The firm set a “buy” rating on the biotechnology company’s stock.

Several other equities research analysts have also commented on IMGN. Jefferies Group restated a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research note on Thursday, October 12th. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Tuesday, October 31st. Cantor Fitzgerald restated a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a research note on Friday, November 3rd. Finally, BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. ImmunoGen currently has an average rating of “Buy” and an average target price of $7.83.

ImmunoGen (NASDAQ IMGN) traded down $0.13 during trading hours on Wednesday, hitting $8.88. The stock had a trading volume of 2,814,247 shares, compared to its average volume of 3,148,263. The company has a debt-to-equity ratio of -0.03, a current ratio of 2.81 and a quick ratio of 2.78. The stock has a market cap of $1,192.90, a price-to-earnings ratio of -6.83 and a beta of 2.50. ImmunoGen has a 52-week low of $2.31 and a 52-week high of $10.04.

Hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in ImmunoGen by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock worth $2,360,000 after buying an additional 1,919 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of ImmunoGen by 789.0% during the 2nd quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock valued at $1,098,000 after purchasing an additional 137,061 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of ImmunoGen by 124.7% during the 3rd quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock valued at $3,753,000 after purchasing an additional 272,315 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of ImmunoGen during the 2nd quarter valued at about $591,000. Finally, OxFORD Asset Management LLP bought a new position in shares of ImmunoGen during the 2nd quarter valued at about $506,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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