ImmunoGen (NASDAQ:IMGN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of ImmunoGen (NASDAQ:IMGNFree Report) in a research note released on Friday. The firm issued a hold rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on IMGN. Guggenheim lowered ImmunoGen from a buy rating to a neutral rating and upped their target price for the stock from $25.00 to $31.00 in a research report on Friday, December 1st. Deutsche Bank Aktiengesellschaft began coverage on ImmunoGen in a research note on Thursday, November 9th. They issued a buy rating and a $25.00 price objective for the company. Barclays restated an equal weight rating and issued a $31.00 price objective (up previously from $27.00) on shares of ImmunoGen in a research note on Friday, December 1st. Jefferies Financial Group restated a hold rating and issued a $31.00 price objective on shares of ImmunoGen in a research note on Friday, December 1st. Finally, Piper Sandler restated a neutral rating and issued a $31.00 price objective (up previously from $24.00) on shares of ImmunoGen in a research note on Monday, December 4th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $25.77.

Read Our Latest Analysis on IMGN

ImmunoGen Price Performance

IMGN stock opened at $31.23 on Friday. ImmunoGen has a 52 week low of $3.61 and a 52 week high of $31.25. The company has a quick ratio of 5.65, a current ratio of 5.70 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $30.18 and a 200 day simple moving average of $22.36. The company has a market cap of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18.

Insider Buying and Selling at ImmunoGen

In related news, SVP Theresa Wingrove sold 117,445 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.40, for a total value of $3,452,883.00. Following the sale, the senior vice president now directly owns 2,811 shares in the company, valued at $82,643.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Theresa Wingrove sold 117,445 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.40, for a total value of $3,452,883.00. Following the sale, the senior vice president now directly owns 2,811 shares in the company, valued at $82,643.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Renee Lentini sold 6,548 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $29.74, for a total value of $194,737.52. Following the completion of the sale, the vice president now owns 8,452 shares in the company, valued at $251,362.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,660 shares of company stock valued at $9,210,070. Company insiders own 5.07% of the company’s stock.

Institutional Trading of ImmunoGen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rafferty Asset Management LLC raised its stake in ImmunoGen by 68.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 566,985 shares of the biotechnology company’s stock worth $8,998,000 after acquiring an additional 229,699 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in ImmunoGen by 64.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,796,110 shares of the biotechnology company’s stock worth $28,504,000 after buying an additional 703,117 shares during the last quarter. TD Asset Management Inc boosted its holdings in ImmunoGen by 188.5% in the 3rd quarter. TD Asset Management Inc now owns 282,400 shares of the biotechnology company’s stock worth $4,482,000 after buying an additional 184,500 shares during the last quarter. Raymond James & Associates boosted its holdings in ImmunoGen by 890.1% in the 3rd quarter. Raymond James & Associates now owns 167,578 shares of the biotechnology company’s stock worth $2,659,000 after buying an additional 150,652 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in ImmunoGen by 14.3% in the 3rd quarter. New York State Common Retirement Fund now owns 324,926 shares of the biotechnology company’s stock worth $5,157,000 after buying an additional 40,537 shares during the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.

About ImmunoGen

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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.

Further Reading

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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