Investment analysts at Barclays assumed coverage on shares of ImmunoGen (NASDAQ:IMGN – Get Rating) in a research note issued on Friday, MarketBeat reports. The brokerage set an "overweight" rating and a $8.00 price target on the biotechnology company's stock. Barclays's price target indicates a potential upside of 46.52% from the company's current price.

Separately, StockNews.com lowered ImmunoGen from a "hold" rating to a "sell" rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, ImmunoGen has an average rating of "Hold" and an average target price of $9.80.

ImmunoGen Stock Performance

NASDAQ:IMGN opened at $5.46 on Friday. The firm has a market cap of $1.21 billion, a PE ratio of -7.91 and a beta of 0.90. ImmunoGen has a fifty-two week low of $3.10 and a fifty-two week high of $7.77. The business has a 50 day moving average price of $5.39 and a 200-day moving average price of $4.84.

Institutional Investors Weigh In On ImmunoGen

Several large investors have recently bought and sold shares of IMGN. Northern Trust Corp boosted its position in ImmunoGen by 1.0% in the fourth quarter. Northern Trust Corp now owns 2,129,508 shares of the biotechnology company's stock worth $15,801,000 after purchasing an additional 21,104 shares during the last quarter. Swiss National Bank lifted its position in shares of ImmunoGen by 0.8% during the 4th quarter. Swiss National Bank now owns 445,300 shares of the biotechnology company's stock valued at $3,304,000 after buying an additional 3,500 shares in the last quarter. Bank of America Corp DE lifted its position in shares of ImmunoGen by 34.1% during the 4th quarter. Bank of America Corp DE now owns 1,083,865 shares of the biotechnology company's stock valued at $8,042,000 after buying an additional 275,868 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of ImmunoGen by 4.1% during the 4th quarter. BNP Paribas Arbitrage SA now owns 61,561 shares of the biotechnology company's stock valued at $457,000 after buying an additional 2,406 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of ImmunoGen during the 4th quarter valued at about $77,000. 95.58% of the stock is currently owned by institutional investors.

ImmunoGen Company Profile

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ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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