ImmunoGen, Inc. (NASDAQ:IMGN) has been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.30.
Several research firms have recently issued reports on IMGN. Jefferies Group reissued a “buy” rating and set a $9.00 target price on shares of ImmunoGen in a research note on Thursday, October 12th. Cantor Fitzgerald reissued a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a research note on Monday, September 25th. ValuEngine cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, October 31st.
ImmunoGen (NASDAQ:IMGN) opened at $7.40 on Wednesday. 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 company has a market capitalization of $1,150.00, a P/E ratio of -5.69 and a beta of 2.20. ImmunoGen has a 12 month low of $2.20 and a 12 month high of $8.84.
Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in shares of ImmunoGen by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after buying an additional 1,919 shares during the period. Royal Bank of Canada increased its stake in shares of ImmunoGen by 789.0% during the second quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock valued at $1,098,000 after buying an additional 137,061 shares during the period. Chicago Equity Partners LLC grew its stake in ImmunoGen by 124.7% in the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after purchasing an additional 272,315 shares during the period. OxFORD Asset Management LLP purchased a new stake in ImmunoGen in the second quarter worth $506,000. Finally, Bank of Nova Scotia purchased a new stake in ImmunoGen in the second quarter worth $591,000. 68.02% of the stock is currently owned by hedge funds and other institutional investors.
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ImmunoGen Company Profile
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.
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