ImmunoGen’s (IMGN) Buy Rating Reiterated at William Blair

William Blair reiterated their buy rating on shares of ImmunoGen (NASDAQ:IMGN) in a report issued on Friday morning, AnalystRatings.com reports.

A number of other brokerages also recently weighed in on IMGN. HC Wainwright reaffirmed a buy rating and issued a $9.00 target price on shares of ImmunoGen in a report on Monday, June 1st. Canaccord Genuity restated a buy rating on shares of ImmunoGen in a research report on Monday, August 3rd. Finally, BidaskClub upgraded shares of ImmunoGen from a sell rating to a hold rating in a report on Saturday, September 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $8.25.

Shares of NASDAQ IMGN opened at $4.07 on Friday. The firm has a market cap of $720.86 million, a P/E ratio of -9.46 and a beta of 2.16. ImmunoGen has a 1-year low of $1.95 and a 1-year high of $7.07. The business’s 50 day moving average is $3.84 and its 200-day moving average is $4.05.

ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, July 31st. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $15.03 million for the quarter, compared to the consensus estimate of $14.29 million. On average, research analysts predict that ImmunoGen will post -0.7 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of IMGN. Macquarie Group Ltd. purchased a new position in ImmunoGen during the second quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ImmunoGen by 61.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,287 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 5,041 shares in the last quarter. Credit Agricole S A raised its stake in shares of ImmunoGen by 35.0% in the 1st quarter. Credit Agricole S A now owns 13,500 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 3,500 shares in the last quarter. M&T Bank Corp bought a new position in ImmunoGen in the 2nd quarter worth approximately $52,000. Finally, Marshall Wace North America L.P. bought a new position in ImmunoGen in the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 79.37% of the company’s stock.

ImmunoGen Company Profile

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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