ImmunoGen, Inc. (NASDAQ:IMGN) Given Consensus Recommendation of “Hold” by Analysts

Shares of ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $10.25.

IMGN has been the topic of several analyst reports. StockNews.com initiated coverage on shares of ImmunoGen in a report on Thursday, March 31st. They set a “sell” rating on the stock. SVB Leerink cut their price target on shares of ImmunoGen from $7.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, February 22nd. BMO Capital Markets initiated coverage on shares of ImmunoGen in a report on Friday, February 11th. They set an “outperform” rating and a $18.00 price target on the stock. Royal Bank of Canada downgraded shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $9.00 to $6.00 in a report on Monday, March 21st. Finally, TheStreet downgraded shares of ImmunoGen from a “c-” rating to a “d” rating in a report on Friday, February 25th.

A number of hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its stake in ImmunoGen by 32.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,286,193 shares of the biotechnology company’s stock worth $76,324,000 after acquiring an additional 2,536,193 shares in the last quarter. Morgan Stanley lifted its position in shares of ImmunoGen by 2.0% in the 2nd quarter. Morgan Stanley now owns 4,286,501 shares of the biotechnology company’s stock worth $28,248,000 after purchasing an additional 82,522 shares during the period. Woodline Partners LP purchased a new stake in shares of ImmunoGen in the 4th quarter worth approximately $28,652,000. Geode Capital Management LLC lifted its position in shares of ImmunoGen by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 3,546,767 shares of the biotechnology company’s stock worth $26,317,000 after purchasing an additional 132,422 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA lifted its position in shares of ImmunoGen by 14.3% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 3,443,524 shares of the biotechnology company’s stock worth $25,551,000 after purchasing an additional 430,057 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

Shares of ImmunoGen stock traded down $0.03 during trading hours on Friday, reaching $5.01. The company’s stock had a trading volume of 87,404 shares, compared to its average volume of 3,350,525. The firm has a 50 day moving average price of $5.17 and a 200-day moving average price of $5.82. ImmunoGen has a one year low of $3.83 and a one year high of $8.23. The stock has a market cap of $1.10 billion, a P/E ratio of -7.48 and a beta of 1.25.

ImmunoGen (NASDAQ:IMGNGet Rating) last posted its earnings results on Friday, February 25th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $25.93 million. ImmunoGen had a negative net margin of 199.41% and a negative return on equity of 98.58%. The business’s quarterly revenue was down 67.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. Research analysts anticipate that ImmunoGen will post -0.94 earnings per share for the current fiscal year.

ImmunoGen Company Profile (Get Rating)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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