ImmunoGen Inc. (NASDAQ:IMGN) shares traded -16.00% lower at $14.33 on Wall Street last session.
In accordance with the data, 11 analysts cover 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 $26.00 and a low of $13.00, we find $24.00. Given the previous closing price of $17.06, this indicates a potential upside of 40.68 percent. IMGN stock price is now -18.89% away from the 50-day moving average and 66.64% away from the 200-day moving average. The market capitalization of the company currently stands at $3.47B.
It has been rated a hold by 1 analysts and a buy by 9. Brokers who have rated the stock have averaged $22.89 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).
In other news, Enyedy Mark J, CHIEF EXECUTIVE OFFICER sold 992,397 shares of the company’s stock on Aug 04. The stock was sold for $16,831,053 at an average price of $16.96. Upon completion of the transaction, the CHIEF EXECUTIVE OFFICER now directly owns 553,270 shares in the company, valued at $7.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, SVP & CHIEF BUSINESS OFFICER Coen Stacy Ann sold 80,326 shares of the business’s stock. A total of $1,369,558 was realized by selling the stock at an average price of $17.05. This leaves the insider owning 10,960 shares of the company worth $0.16 million. 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 $45,589,000. EMERALD ADVISERS, LLC invested $14,096,000 in shares of IMGN during the first quarter. In the first quarter, PROFUND ADVISORS LLC acquired a new stake in ImmunoGen Inc. valued at approximately $3,623,000. MAN GROUP PLC acquired a new stake in IMGN for approximately $3,092,000. MOODY ALDRICH PARTNERS LLC purchased a new stake in IMGN valued at around $2,936,000 in the second quarter.
ImmunoGen Inc. (NASDAQ: IMGN) opened at $16.80 on Monday. During the past 12 months, ImmunoGen Inc. has had a low of $3.61 and a high of $20.69. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 7.10, and a quick ratio of 7.10. The fifty day moving average price for IMGN is $17.68 and a two-hundred day moving average price translates $8.64 for the stock.
The latest earnings results from ImmunoGen Inc. (NASDAQ: IMGN) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.02, beating analysts’ expectations of -$0.14 by 0.12. This compares to -$0.24 EPS in the same period last year. The net profit margin was -96.00% and return on equity was -76.90% for IMGN. The company reported revenue of $83.15 million for the quarter, compared to $14.16 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 487.16 percent. For the current quarter, analysts expect IMGN to generate $99.53M 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.
