ImmunoGen (NASDAQ:IMGN) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of ImmunoGen (NASDAQ:IMGN) in a research report report published on Monday morning. The firm issued a hold rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Barclays reiterated an equal weight rating and issued a $31.00 price objective (up from $27.00) on shares of ImmunoGen in a research report on Friday, December 1st. Jefferies Financial Group restated a hold rating and set a $31.00 target price on shares of ImmunoGen in a research report on Friday, December 1st. Guggenheim lowered shares of ImmunoGen from a buy rating to a neutral rating and boosted their target price for the stock from $25.00 to $31.00 in a research report on Friday, December 1st. Piper Sandler restated a neutral rating and set a $31.00 target price (up from $24.00) on shares of ImmunoGen in a research report on Monday, December 4th. Finally, HC Wainwright lowered shares of ImmunoGen from a buy rating to a neutral rating and boosted their target price for the stock from $28.00 to $31.26 in a research report on Thursday, November 30th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, ImmunoGen presently has an average rating of Hold and an average price target of $25.77.

ImmunoGen Stock Performance

NASDAQ:IMGN opened at $31.23 on Monday. The firm’s fifty day moving average price is $30.73 and its 200 day moving average price is $24.19. ImmunoGen has a 1-year low of $3.61 and a 1-year high of $31.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.70 and a quick ratio of 5.65. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of -100.74 and a beta of 1.18.

Insider Buying and Selling at ImmunoGen

In other ImmunoGen news, SVP Theresa Wingrove sold 187,667 shares of ImmunoGen stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $29.64, for a total value of $5,562,449.88. Following the completion of the sale, the senior vice president now owns 3,426 shares in the company, valued at approximately $101,546.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is owned by company insiders.

Institutional Trading of ImmunoGen

A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of ImmunoGen by 8.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,970 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 540 shares during the period. Amalgamated Bank boosted its holdings in ImmunoGen by 2.1% in the 3rd quarter. Amalgamated Bank now owns 31,076 shares of the biotechnology company’s stock worth $493,000 after acquiring an additional 652 shares during the period. Arizona State Retirement System boosted its holdings in ImmunoGen by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 62,272 shares of the biotechnology company’s stock worth $988,000 after acquiring an additional 842 shares during the period. Parallel Advisors LLC boosted its holdings in ImmunoGen by 3,028.6% in the 4th quarter. Parallel Advisors LLC now owns 876 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 848 shares during the period. Finally, DCF Advisers LLC boosted its holdings in ImmunoGen by 8.9% in the 4th quarter. DCF Advisers LLC now owns 14,000 shares of the biotechnology company’s stock worth $415,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors own 90.50% of the company’s stock.

ImmunoGen Company Profile

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.