Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $13.75.
A number of analysts have commented on the company. ValuEngine upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. William Blair reiterated an “outperform” rating on shares of ImmunoGen in a research report on Monday, October 22nd. HC Wainwright set a $18.00 target price on ImmunoGen and gave the stock a “buy” rating in a research report on Monday, October 22nd. BidaskClub downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $14.00 target price on ImmunoGen and gave the stock a “buy” rating in a research report on Sunday, December 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of ImmunoGen in the fourth quarter worth $56,000. Signition LP acquired a new position in shares of ImmunoGen in the third quarter worth $115,000. Jane Street Group LLC raised its holdings in shares of ImmunoGen by 226.1% in the third quarter. Jane Street Group LLC now owns 12,866 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 23,072 shares during the last quarter. MML Investors Services LLC acquired a new position in shares of ImmunoGen in the third quarter worth $130,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of ImmunoGen in the fourth quarter worth $73,000. 83.71% of the stock is owned by institutional investors.
ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, February 8th. The biotechnology company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.05. The company had revenue of $13.79 million for the quarter, compared to the consensus estimate of $12.42 million. ImmunoGen had a negative return on equity of 499.19% and a negative net margin of 311.94%. ImmunoGen’s quarterly revenue was down 65.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. On average, equities analysts anticipate that ImmunoGen will post -1.21 earnings per share for the current year.
ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
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