ImmunoGen, Inc. (NASDAQ:IMGN) Receives Consensus Recommendation of “Hold” from Brokerages

ImmunoGen, Inc. (NASDAQ:IMGN) has earned an average rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.39.

A number of research firms have weighed in on IMGN. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of ImmunoGen in a research report on Tuesday. Cowen reiterated a “buy” rating on shares of ImmunoGen in a research report on Tuesday. BidaskClub lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, Leerink Swann reiterated a “hold” rating on shares of ImmunoGen in a research report on Tuesday, September 24th.

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of ImmunoGen during the third quarter worth $27,000. ETRADE Capital Management LLC bought a new position in shares of ImmunoGen during the second quarter worth $26,000. Bank of Montreal Can boosted its position in shares of ImmunoGen by 1,702.5% during the second quarter. Bank of Montreal Can now owns 12,816 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 12,105 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of ImmunoGen during the third quarter worth $36,000. Finally, Marshall Wace North America L.P. bought a new position in shares of ImmunoGen during the first quarter worth $52,000. Hedge funds and other institutional investors own 69.34% of the company’s stock.

IMGN opened at $3.79 on Wednesday. The firm has a market cap of $578.57 million, a P/E ratio of -3.21 and a beta of 2.33. ImmunoGen has a 1-year low of $1.76 and a 1-year high of $6.13. The company has a 50 day simple moving average of $3.28 and a two-hundred day simple moving average of $2.65.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Friday, November 1st. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.04. The business had revenue of $13.30 million during the quarter, compared to analyst estimates of $10.38 million. ImmunoGen had a negative net margin of 292.57% and a negative return on equity of 573.09%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. Equities research analysts expect that ImmunoGen will post -0.79 EPS for the current year.

About ImmunoGen

ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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