ImmunoGen (IMGN) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of ImmunoGen (NASDAQ:IMGN) from a hold rating to a sell rating in a research note published on Wednesday.

Several other analysts have also issued reports on IMGN. BidaskClub upgraded ImmunoGen from a hold rating to a buy rating in a report on Thursday, January 18th. HC Wainwright started coverage on ImmunoGen in a report on Wednesday, January 31st. They set a buy rating for the company. Royal Bank of Canada reiterated an outperform rating and set a $12.00 price objective on shares of ImmunoGen in a report on Thursday, February 8th. Zacks Investment Research lowered ImmunoGen from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald set a $5.00 price objective on ImmunoGen and gave the stock a hold rating in a report on Sunday, March 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $10.79.

Shares of NASDAQ:IMGN opened at $10.52 on Wednesday. The company has a quick ratio of 4.94, a current ratio of 4.95 and a debt-to-equity ratio of -0.11. ImmunoGen has a 1 year low of $2.84 and a 1 year high of $13.41. The firm has a market cap of $1,397.54, a P/E ratio of -14.03 and a beta of 2.17.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $39.40 million during the quarter, compared to analyst estimates of $39.62 million. During the same period last year, the company posted ($0.39) EPS. The company’s quarterly revenue was up 185.5% compared to the same quarter last year. analysts anticipate that ImmunoGen will post -1.09 earnings per share for the current year.

In other ImmunoGen news, Director Daniel M. Junius sold 25,000 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $12.02, for a total transaction of $300,500.00. Following the transaction, the director now directly owns 209,987 shares of the company’s stock, valued at $2,524,043.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Junius sold 46,667 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $10.01, for a total transaction of $467,136.67. Following the transaction, the director now directly owns 243,367 shares in the company, valued at $2,436,103.67. The disclosure for this sale can be found here. Insiders have sold 232,834 shares of company stock worth $2,534,433 over the last three months. Company insiders own 6.51% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in ImmunoGen during the third quarter worth $136,000. SG Americas Securities LLC increased its position in ImmunoGen by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after buying an additional 7,937 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in ImmunoGen during the third quarter worth $143,000. Engineers Gate Manager LP acquired a new position in ImmunoGen during the fourth quarter worth $149,000. Finally, Dynamic Advisors Solutions LLC acquired a new position in ImmunoGen during the fourth quarter worth $150,000. 78.25% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was reported by WKRB News and is the property of of WKRB News. If you are accessing this story on another publication, it was stolen and republished in violation of United States and international trademark & copyright laws. The original version of this story can be accessed at https://www.wkrb13.com/2018/04/01/immunogen-imgn-lowered-to-sell-at-valuengine.html.

About ImmunoGen

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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.

Leave a Reply