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.
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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.
ImmunoGen (NASDAQ:IMGN – Get Rating) last announced its quarterly earnings results on Friday, July 29th. The biotechnology company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). ImmunoGen had a negative return on equity of 67.02% and a negative net
margin of 179.64%. The business had revenue of $14.20 million during the quarter, compared to analysts' expectations of $16.18 million. During the same period in the previous year, the business earned ($0.15) EPS. The business's revenue was down 16.0% compared to the same quarter last year. Research analysts predict that ImmunoGen will post -0.89 EPS for the current year.
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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