ImmunoGen, Inc. (NASDAQ:IMGN)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.55, but opened at $6.69. ImmunoGen shares last traded at $6.99, with a volume of 4,299,630 shares changing hands.
IMGN has been the topic of several analyst reports. Leerink Swann reissued an “outperform” rating and issued a $11.00 target price (up previously from $8.00) on shares of ImmunoGen in a research note on Monday, June 19th. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. William Blair reissued an “outperform” rating on shares of ImmunoGen in a research note on Monday, June 26th. Royal Bank Of Canada set a $5.00 target price on ImmunoGen and gave the company a “hold” rating in a research note on Monday, June 26th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $6.00 target price on shares of ImmunoGen in a research note on Wednesday, June 28th. Three equities research 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’s stock. ImmunoGen has an average rating of “Hold” and an average price target of $8.05.
The stock has a 50 day moving average of $7.12 and a 200 day moving average of $5.61. The firm’s market capitalization is $626.28 million.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. The firm’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.53) earnings per share. Analysts predict that ImmunoGen, Inc. will post ($0.74) EPS for the current fiscal year.
In other news, VP Craig Barrows sold 14,600 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the transaction, the vice president now directly owns 51,100 shares of the company’s stock, valued at approximately $355,145. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.51% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of IMGN. Teachers Advisors LLC increased its position in ImmunoGen by 10.6% in the 4th quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock valued at $428,000 after buying an additional 20,171 shares in the last quarter. Bank of New York Mellon Corp increased its position in ImmunoGen by 15.4% in the 1st quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company’s stock valued at $1,698,000 after buying an additional 58,516 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in ImmunoGen by 148.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 68,097 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 40,700 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in ImmunoGen in the 1st quarter valued at about $1,528,000. Finally, Parametric Portfolio Associates LLC increased its position in ImmunoGen by 7.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 2,753 shares in the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.
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.
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