A number of other research firms also recently issued reports on IMGN. TheStreet downgraded ImmunoGen from a c- rating to a d rating in a research note on Friday, February 25th. SVB Leerink cut their target price on ImmunoGen from $7.00 to $5.00 and set a market perform rating on the stock in a research report on Tuesday, February 22nd. Royal Bank of Canada downgraded ImmunoGen from an outperform rating to a sector perform rating and cut their target price for the company from $9.00 to $6.00 in a research report on Monday, March 21st. Finally, BMO Capital Markets initiated coverage on ImmunoGen in a research report on Friday, February 11th. They set an outperform rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $10.25.
NASDAQ:IMGN opened at $3.97 on Tuesday. ImmunoGen has a 1 year low of $3.82 and a 1 year high of $7.77. The stock’s 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $5.72. The company has a market cap of $875.51 million, a price-to-earnings ratio of -6.62 and a beta of 1.16.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. Marshall Wace North America L.P. bought a new stake in shares of ImmunoGen during the first quarter worth $52,000. Morgan Stanley lifted its holdings in ImmunoGen by 2.0% during the 2nd quarter. Morgan Stanley now owns 4,286,501 shares of the biotechnology company’s stock valued at $28,248,000 after buying an additional 82,522 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in ImmunoGen by 29.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 30,336 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 6,830 shares in the last quarter. SG Americas Securities LLC lifted its holdings in ImmunoGen by 771.6% during the 3rd quarter. SG Americas Securities LLC now owns 125,830 shares of the biotechnology company’s stock valued at $713,000 after buying an additional 111,393 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in ImmunoGen during the 3rd quarter valued at about $106,000. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
About ImmunoGen (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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