ImmunoGen, Inc. (NASDAQ:IMGN) Given Average Rating of “Hold” by Brokerages
Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.39.
IMGN has been the topic of several analyst reports. Guggenheim downgraded ImmunoGen from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and set a $5.00 target price (up previously from $4.00) on shares of ImmunoGen in a research report on Tuesday. Cowen reissued a “buy” rating on shares of ImmunoGen in a research report on Thursday, June 27th. Zacks Investment Research downgraded ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.
Shares of NASDAQ IMGN traded down $0.08 during midday trading on Thursday, reaching $2.75. The stock had a trading volume of 1,157,600 shares, compared to its average volume of 3,427,957. The firm has a market cap of $422.66 million, a price-to-earnings ratio of -2.33 and a beta of 2.30. ImmunoGen has a twelve month low of $1.76 and a twelve month high of $10.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.48 and a current ratio of 3.48. The company’s 50 day moving average price is $2.41 and its 200 day moving average price is $2.87.
Institutional investors have recently made changes to their positions in the business. Redmile Group LLC grew its holdings in ImmunoGen by 20.0% in the first quarter. Redmile Group LLC now owns 13,063,767 shares of the biotechnology company’s stock valued at $35,403,000 after purchasing an additional 2,179,160 shares during the period. Vanguard Group Inc. grew its holdings in shares of ImmunoGen by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 10,659,479 shares of the biotechnology company’s stock worth $23,131,000 after acquiring an additional 130,329 shares during the period. Clearbridge Investments LLC grew its holdings in shares of ImmunoGen by 5.5% in the 1st quarter. Clearbridge Investments LLC now owns 8,870,628 shares of the biotechnology company’s stock worth $24,039,000 after acquiring an additional 464,147 shares during the period. Morgan Stanley grew its holdings in shares of ImmunoGen by 74.6% in the 2nd quarter. Morgan Stanley now owns 5,833,867 shares of the biotechnology company’s stock worth $12,659,000 after acquiring an additional 2,493,037 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of ImmunoGen by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,717,770 shares of the biotechnology company’s stock worth $8,245,000 after acquiring an additional 96,984 shares during the period. 77.50% of the stock is currently owned by institutional investors.
ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.
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