ImmunoGen (NASDAQ:IMGN) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of ImmunoGen (NASDAQ:IMGN) in a research note published on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $17.00 price target on the biotechnology company’s stock.

Several other equities analysts have also issued reports on IMGN. HC Wainwright lifted their price objective on shares of ImmunoGen from $27.00 to $28.00 and gave the company a buy rating in a report on Friday, November 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ImmunoGen in a research note on Thursday, November 9th. They issued a buy rating and a $25.00 target price for the company. Canaccord Genuity Group raised their target price on shares of ImmunoGen from $23.00 to $25.00 and gave the company a buy rating in a research note on Tuesday, August 1st. Oppenheimer assumed coverage on shares of ImmunoGen in a research note on Thursday, October 5th. They issued a market perform rating and a $16.00 target price for the company. Finally, Barclays raised their target price on shares of ImmunoGen from $20.00 to $27.00 and gave the company an overweight rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $22.00.

ImmunoGen Stock Performance

Shares of IMGN stock opened at $14.94 on Monday. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -48.19 and a beta of 0.83. The company’s 50 day moving average is $15.08 and its 200 day moving average is $15.99. The company has a quick ratio of 5.65, a current ratio of 5.70 and a debt-to-equity ratio of 0.13. ImmunoGen has a 52-week low of $3.61 and a 52-week high of $20.69.

Insider Activity at ImmunoGen

In related news, SVP Theresa Wingrove sold 19,517 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.66, for a total transaction of $325,153.22. Following the completion of the transaction, the senior vice president now directly owns 2,811 shares in the company, valued at $46,831.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stacy Ann Coen sold 78,223 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $16.05, for a total transaction of $1,255,479.15. Following the completion of the transaction, the senior vice president now directly owns 36,966 shares in the company, valued at $593,304.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Theresa Wingrove sold 19,517 shares of ImmunoGen stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.66, for a total transaction of $325,153.22. Following the completion of the transaction, the senior vice president now directly owns 2,811 shares of the company’s stock, valued at approximately $46,831.26. The disclosure for this sale can be found here. Insiders sold 868,027 shares of company stock worth $13,309,605 over the last three months. Company insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC purchased a new position in ImmunoGen in the second quarter valued at $28,000. BluePath Capital Management LLC purchased a new position in ImmunoGen in the third quarter valued at $35,000. West Tower Group LLC purchased a new position in ImmunoGen in the second quarter valued at $74,000. HM Payson & Co. increased its holdings in ImmunoGen by 414.7% in the second quarter. HM Payson & Co. now owns 4,169 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 3,359 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in ImmunoGen in the second quarter valued at $81,000. Hedge funds and other institutional investors own 90.50% of the company’s stock.

ImmunoGen Company Profile

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.