Barclays began coverage on shares of ImmunoGen (NASDAQ:IMGN – Get Rating) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $8.00 price target on the biotechnology company's stock.

Separately, StockNews.com downgraded shares of ImmunoGen from a hold rating to a sell rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $9.80.

ImmunoGen Stock Down 0.4 %

NASDAQ:IMGN opened at $5.44 on Friday. The company has a fifty day simple moving average of $5.40 and a two-hundred day simple moving average of $4.84. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -7.88 and a beta of 0.90. ImmunoGen has a 52 week low of $3.10 and a 52 week high of $7.77.

Hedge Funds Weigh In On ImmunoGen

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in shares of ImmunoGen by 4.1% during the fourth quarter. BNP Paribas Arbitrage SA now owns 61,561 shares of the biotechnology company's stock worth $457,000 after purchasing an additional 2,406 shares in the last quarter. TFC Financial Management grew its stake in shares of ImmunoGen by 18.1% during the first quarter. TFC Financial Management now owns 17,950 shares of the biotechnology company's stock worth $85,000 after purchasing an additional 2,750 shares in the last quarter. Blair William & Co. IL grew its stake in shares of ImmunoGen by 0.5% during the first quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company's stock worth $2,563,000 after purchasing an additional 2,925 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of ImmunoGen by 14.6% during the first quarter. Kestra Advisory Services LLC now owns 23,468 shares of the biotechnology company's stock worth $112,000 after purchasing an additional 2,985 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of ImmunoGen by 4.4% during the first quarter. Mackenzie Financial Corp now owns 80,816 shares of the biotechnology company's stock worth $385,000 after purchasing an additional 3,370 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

About ImmunoGen

(Get Rating)

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.

Featured Articles

• Get a free copy of the StockNews.com research report on ImmunoGen (IMGN)
• Darden Restaurants Takes the Low Road Against Inflation
• Why These 3 Stocks Are Off to Hot September Starts
• Inflation Doesn't Differentiate, But it's Impact Does
• 3 Downgraded Must-Have Stocks To Put On Your Watchlist
• This Is What To Expect From The Q3 Earnings Reporting Season

Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.