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

Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $25.77.

Separately, StockNews.com started coverage on shares of ImmunoGen in a research report on Wednesday, April 10th. They issued a “hold” rating on the stock.

ImmunoGen Stock Performance

IMGN stock opened at $31.23 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.65 and a current ratio of 5.70. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of -100.74 and a beta of 1.18. ImmunoGen has a 1 year low of $3.61 and a 1 year high of $31.25. The stock’s fifty day moving average is $31.16 and its two-hundred day moving average is $25.65.

Hedge Funds Weigh In On ImmunoGen

Hedge funds have recently added to or reduced their stakes in the company. Vazirani Asset Management LLC acquired a new position in ImmunoGen in the fourth quarter worth approximately $25,000. Parallel Advisors LLC boosted its position in ImmunoGen by 3,028.6% during the fourth quarter. Parallel Advisors LLC now owns 876 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 848 shares during the period. BluePath Capital Management LLC bought a new stake in ImmunoGen during the third quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in ImmunoGen during the fourth quarter worth approximately $46,000. Finally, Bank of Montreal Can bought a new stake in ImmunoGen during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 90.50% of the company’s stock.

About ImmunoGen

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.