ImmunoGen (NASDAQ:IMGN)‘s stock had its “hold” rating restated by research analysts at Cowen in a research report issued to clients and investors on Thursday.
IMGN has been the topic of a number of other research reports. ValuEngine upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. HC Wainwright set a $18.00 price target on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research lowered shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, BidaskClub upgraded shares of ImmunoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $12.21.
ImmunoGen stock traded down $0.01 during trading hours on Thursday, hitting $10.76. The company had a trading volume of 333,843 shares, compared to its average volume of 3,003,467. The stock has a market cap of $1.37 billion, a P/E ratio of -14.35 and a beta of 2.17. The company has a quick ratio of 3.73, a current ratio of 3.74 and a debt-to-equity ratio of -0.06. ImmunoGen has a one year low of $10.33 and a one year high of $10.59.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, May 4th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.03). The business had revenue of $19.80 million for the quarter, compared to analysts’ expectations of $15.04 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. equities analysts anticipate that ImmunoGen will post -1.13 earnings per share for the current fiscal year.
In related news, CFO David Brannon Johnston sold 21,060 shares of ImmunoGen stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $10.87, for a total transaction of $228,922.20. Following the completion of the transaction, the chief financial officer now owns 180,690 shares of the company’s stock, valued at $1,964,100.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel M. Junius sold 25,000 shares of ImmunoGen stock in a transaction on Friday, March 16th. The stock was sold at an average price of $12.02, for a total transaction of $300,500.00. Following the transaction, the director now directly owns 209,987 shares of the company’s stock, valued at approximately $2,524,043.74. The disclosure for this sale can be found here. Insiders have sold 183,263 shares of company stock valued at $2,048,014 in the last ninety days. Insiders own 6.51% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Redmile Group LLC grew its holdings in ImmunoGen by 35.3% in the fourth quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock worth $69,914,000 after purchasing an additional 2,845,465 shares during the period. BlackRock Inc. grew its holdings in ImmunoGen by 54.7% in the fourth quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock worth $54,294,000 after purchasing an additional 2,996,116 shares during the period. Franklin Resources Inc. grew its holdings in ImmunoGen by 7.0% in the fourth quarter. Franklin Resources Inc. now owns 3,006,600 shares of the biotechnology company’s stock worth $19,272,000 after purchasing an additional 195,700 shares during the period. Wells Fargo & Company MN grew its holdings in ImmunoGen by 14.7% in the first quarter. Wells Fargo & Company MN now owns 1,788,639 shares of the biotechnology company’s stock worth $18,817,000 after purchasing an additional 229,787 shares during the period. Finally, PointState Capital LP acquired a new stake in ImmunoGen in the first quarter worth $17,608,000. Institutional investors and hedge funds own 78.75% of the company’s stock.
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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