The price of ImmunoGen Inc. (NASDAQ:IMGN) shares last traded on Wall Street rose 1.56% to $13.69.
Based on available information, 12 analysts follow ImmunoGen Inc. (NASDAQ:IMGN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $8.00, we find $15.00. Given the previous closing price of $13.48, this indicates a potential upside of 11.28 percent. IMGN stock price is now 137.72% away from the 50-day moving average and 159.57% away from the 200-day moving average. The market capitalization of the company currently stands at $3.45B.
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Among analysts, 2 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $14.40 as their price target over the next twelve months.
With the price target enhanced from $6 to $16, Piper Sandler Upgraded its rating from Neutral to Overweight for ImmunoGen Inc. (NASDAQ: IMGN). On November 21, 2022, Truist recently initiated its ‘Buy’ rating on the stock quoting a target price of $10, while ‘Barclays’ rates the stock as ‘Overweight’.
A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IMGN stock. A new stake in ImmunoGen Inc. shares was purchased by ARTISAN PARTNERS LIMITED PARTNERSHIP during the first quarter worth $43,553,000. PROFUND ADVISORS LLC invested $3,461,000 in shares of IMGN during the first quarter. In the first quarter, MAN GROUP PLC acquired a new stake in ImmunoGen Inc. valued at approximately $2,954,000. GHOST TREE CAPITAL, LLC acquired a new stake in IMGN for approximately $1,711,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in IMGN valued at around $1,083,000 in the second quarter. In total, there are 297 active investors with 93.10% ownership of the company’s stock.
A candlestick chart of ImmunoGen Inc. (NASDAQ: IMGN) showed a price of $13.10 on Tuesday morning. During the past 12 months, ImmunoGen Inc. has had a low of $3.10 and a high of $14.30. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.40, and a quick ratio of 2.40. The fifty day moving average price for IMGN is $5.95 and a two-hundred day moving average price translates $5.32 for the stock.
The latest earnings results from ImmunoGen Inc. (NASDAQ: IMGN) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.16, beating analysts’ expectations of -$0.25 by 0.09. This compares to -$0.10 EPS in the same period last year. The company reported revenue of $49.87 million for the quarter, compared to $38.08 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.97 percent. For the current quarter, analysts expect IMGN to generate $44.43M in revenue.
ImmunoGen Inc.(IMGN) Company Profile
ImmunoGen, Inc., a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company’s product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm. Its preclinical programs include IMGC936, an ADC in co-development with MacroGenics, Inc.; and IMGN151, an anti-FRa product candidate. The company has collaborations with Roche; Amgen/Oxford BioTherapeutics; Bayer HealthCare AG; Eli Lilly and Company; Novartis Institutes for BioMedical Research, Inc.; CytomX Therapeutics, Inc.; Fusion Pharmaceuticals Inc.; Debiopharm International SA; and MacroGenics, Inc. ImmunoGen, Inc. was founded in 1980 and is headquartered in Waltham, Massachusetts.
