ImmunoGen (NASDAQ:IMGN) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of ImmunoGen (NASDAQ:IMGNGet Rating) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $10.00 target price on the biotechnology company’s stock.

IMGN has been the topic of a number of other research reports. HC Wainwright boosted their price objective on ImmunoGen from $12.00 to $20.00 and gave the stock a buy rating in a research note on Wednesday, November 16th. Barclays boosted their price objective on ImmunoGen from $8.00 to $9.00 and gave the stock an overweight rating in a research note on Tuesday, November 15th. StockNews.com assumed coverage on ImmunoGen in a research note on Wednesday, October 12th. They issued a sell rating on the stock. Guggenheim set a $22.00 price objective on ImmunoGen in a research note on Thursday, November 17th. Finally, Canaccord Genuity Group boosted their target price on ImmunoGen from $12.00 to $15.00 in a research report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $13.00.

ImmunoGen Price Performance

Shares of ImmunoGen stock opened at $5.16 on Monday. The business’s fifty day moving average price is $5.47 and its two-hundred day moving average price is $4.97. The company has a market capitalization of $1.14 billion, a P/E ratio of -6.29 and a beta of 1.06. ImmunoGen has a 1-year low of $3.10 and a 1-year high of $7.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky purchased a new position in shares of ImmunoGen during the third quarter valued at $754,000. BNP Paribas Arbitrage SNC grew its holdings in shares of ImmunoGen by 451.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 344,240 shares of the biotechnology company’s stock valued at $1,645,000 after buying an additional 281,816 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of ImmunoGen by 6.6% during the third quarter. Two Sigma Advisers LP now owns 3,012,418 shares of the biotechnology company’s stock valued at $14,399,000 after buying an additional 185,600 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of ImmunoGen by 19.7% during the third quarter. Two Sigma Investments LP now owns 2,424,757 shares of the biotechnology company’s stock valued at $11,590,000 after buying an additional 399,130 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of ImmunoGen by 11.3% during the third quarter. UBS Asset Management Americas Inc. now owns 244,602 shares of the biotechnology company’s stock valued at $1,169,000 after buying an additional 24,834 shares in the last quarter. Hedge funds and other institutional investors 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.

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Analyst Recommendations for ImmunoGen (NASDAQ:IMGN)

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