ImmunoGen, Inc. (IMGN) Receives $14.75 Average Price Target from Analysts

ImmunoGen, Inc. (NASDAQ:IMGN) has been given a consensus rating of “Buy” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.60.

A number of analysts have recently weighed in on IMGN shares. BidaskClub downgraded ImmunoGen from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Piper Jaffray Companies started coverage on ImmunoGen in a research report on Thursday, September 6th. They set an “overweight” rating for the company. Guggenheim started coverage on ImmunoGen in a research report on Monday, September 17th. They set a “buy” rating for the company. Finally, ValuEngine downgraded ImmunoGen from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th.

In related news, VP Anna Berkenblit sold 5,851 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $8.00, for a total transaction of $46,808.00. Following the completion of the sale, the vice president now directly owns 132,769 shares in the company, valued at approximately $1,062,152. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Alan Goldberg acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $5.76 per share, with a total value of $172,800.00. Following the completion of the transaction, the director now owns 53,800 shares in the company, valued at $309,888. The disclosure for this purchase can be found here. Corporate insiders own 4.44% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB lifted its position in shares of ImmunoGen by 29.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 24,100 shares of the biotechnology company’s stock worth $234,000 after buying an additional 5,500 shares during the last quarter. Amalgamated Bank lifted its position in shares of ImmunoGen by 46.3% during the 2nd quarter. Amalgamated Bank now owns 19,529 shares of the biotechnology company’s stock worth $190,000 after buying an additional 6,183 shares during the last quarter. United Services Automobile Association lifted its position in shares of ImmunoGen by 39.1% during the 2nd quarter. United Services Automobile Association now owns 22,945 shares of the biotechnology company’s stock worth $223,000 after buying an additional 6,455 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of ImmunoGen by 75.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock worth $153,000 after buying an additional 6,763 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of ImmunoGen by 25.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 42,193 shares of the biotechnology company’s stock worth $411,000 after buying an additional 8,543 shares during the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.

NASDAQ IMGN traded down $0.01 on Friday, reaching $5.74. The stock had a trading volume of 155,705 shares, compared to its average volume of 2,092,095. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.59 and a quick ratio of 4.56. ImmunoGen has a 1-year low of $5.16 and a 1-year high of $13.41. The firm has a market cap of $821.49 million, a price-to-earnings ratio of -7.65 and a beta of 2.56.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. ImmunoGen had a negative return on equity of 673.66% and a negative net margin of 176.35%. The firm had revenue of $10.90 million for the quarter, compared to analyst estimates of $13.60 million. During the same period in the prior year, the firm posted ($0.61) EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities analysts anticipate that ImmunoGen will post -1.24 earnings per share for the current fiscal year.

ImmunoGen Company Profile

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing 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, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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