Other equities research analysts have also recently issued research reports about the company. BidaskClub raised ImmunoGen from a strong sell rating to a sell rating in a report on Tuesday, August 14th. Zacks Investment Research raised ImmunoGen from a sell rating to a hold rating in a report on Monday, August 27th. ValuEngine cut ImmunoGen from a buy rating to a hold rating in a report on Saturday, October 6th. Piper Jaffray Companies set a $14.00 target price on ImmunoGen and gave the stock a buy rating in a report on Sunday, December 2nd. Finally, Guggenheim assumed coverage on ImmunoGen in a report on Monday, September 17th. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. ImmunoGen presently has an average rating of Buy and an average target price of $14.60.
Shares of NASDAQ:IMGN opened at $5.47 on Monday. ImmunoGen has a 12 month low of $5.11 and a 12 month high of $13.41. The company has a market cap of $825.96 million, a P/E ratio of -7.29 and a beta of 2.56. The company has a current ratio of 4.59, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04.
In other ImmunoGen news, VP Anna Berkenblit sold 5,851 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $8.00, for a total value of $46,808.00. Following the transaction, the vice president now owns 132,769 shares of the company’s stock, valued at $1,062,152. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Alan Goldberg purchased 30,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $172,800.00. Following the acquisition, the director now directly owns 53,800 shares of the company’s stock, valued at approximately $309,888. The disclosure for this purchase can be found here. 4.44% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Redmile Group LLC increased its holdings in shares of ImmunoGen by 26.9% in the second quarter. Redmile Group LLC now owns 12,315,942 shares of the biotechnology company’s stock valued at $119,834,000 after buying an additional 2,613,460 shares in the last quarter. BlackRock Inc. increased its holdings in shares of ImmunoGen by 10.0% in the third quarter. BlackRock Inc. now owns 11,481,977 shares of the biotechnology company’s stock valued at $108,733,000 after buying an additional 1,045,627 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ImmunoGen by 4.0% in the third quarter. Vanguard Group Inc. now owns 10,158,434 shares of the biotechnology company’s stock valued at $96,201,000 after buying an additional 390,917 shares in the last quarter. FMR LLC increased its holdings in shares of ImmunoGen by 34.0% in the second quarter. FMR LLC now owns 8,704,234 shares of the biotechnology company’s stock valued at $84,692,000 after buying an additional 2,208,796 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of ImmunoGen by 35.8% in the second quarter. Renaissance Technologies LLC now owns 6,525,300 shares of the biotechnology company’s stock valued at $63,491,000 after buying an additional 1,719,360 shares in the last quarter. 83.73% of the stock is currently owned by institutional investors.
ImmunoGen Company Profile
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.
Further Reading: Bull Market
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