ImmunoGen, Inc. (IMGN) Receives Consensus Rating of “Hold” from Brokerages

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.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.42). The business had revenue of $8.50 million during the quarter, compared to analyst estimates of $26.09 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. ImmunoGen’s revenue for the quarter was up 10.4% on a year-over-year basis. equities analysts predict that ImmunoGen will post -0.97 earnings per share for the current fiscal year.

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.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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