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

ImmunoGen, Inc. (NASDAQ:IMGN) has been given a consensus rating of “Hold” by the fourteen research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.17.

Several analysts have recently issued reports on the stock. ValuEngine raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Jefferies Financial Group lowered shares of ImmunoGen from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. HC Wainwright reissued a “buy” rating on shares of ImmunoGen in a research report on Thursday, January 3rd. BidaskClub raised shares of ImmunoGen from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 9th. Finally, Svb Leerink lowered shares of ImmunoGen from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th.

IMGN traded down $0.07 during midday trading on Friday, reaching $2.65. The company had a trading volume of 55,517 shares, compared to its average volume of 2,848,744. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.19. The stock has a market cap of $406.40 million, a price-to-earnings ratio of -2.26 and a beta of 2.22. ImmunoGen has a 12-month low of $2.27 and a 12-month high of $12.31.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, February 8th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.05. The firm had revenue of $13.79 million for the quarter, compared to analysts’ expectations of $12.42 million. ImmunoGen had a negative net margin of 311.94% and a negative return on equity of 599.63%. The company’s quarterly revenue was down 65.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that ImmunoGen will post -1.2 earnings per share for the current year.

In other ImmunoGen news, CEO Mark J. Enyedy sold 51,070 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $285,992.00. Following the completion of the transaction, the chief executive officer now owns 483,768 shares of the company’s stock, valued at approximately $2,709,100.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas Ryll sold 11,495 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $5.60, for a total transaction of $64,372.00. Following the completion of the transaction, the vice president now directly owns 87,184 shares of the company’s stock, valued at approximately $488,230.40. The disclosure for this sale can be found here. Corporate insiders own 4.44% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in ImmunoGen by 154.6% in the 4th quarter. Deutsche Bank AG now owns 1,242,243 shares of the biotechnology company’s stock worth $5,962,000 after buying an additional 754,366 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ImmunoGen by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,717,770 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 96,984 shares in the last quarter. Norges Bank purchased a new stake in shares of ImmunoGen in the 4th quarter valued at $2,056,000. Sofinnova Investments Inc. purchased a new stake in shares of ImmunoGen in the 4th quarter valued at $2,146,000. Finally, Amalgamated Bank purchased a new stake in shares of ImmunoGen in the 4th quarter valued at $104,000. 82.88% of the stock is owned by institutional investors and hedge funds.

About ImmunoGen

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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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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