In yesterday’s Wall Street session, ImmunoGen Inc. (NASDAQ:IMGN) shares traded at $15.76, down -0.76% from the previous session.
As of this writing, 12 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 $27.00 and a low of $13.00, we find $24.00. Given the previous closing price of $15.88, this indicates a potential upside of 51.13 percent. IMGN stock price is now -6.72% away from the 50-day moving average and 58.74% away from the 200-day moving average. The market capitalization of the company currently stands at $3.87B.
There are 1 analysts who have given it a hold rating, whereas 10 have given it a buy rating. Brokers who have rated the stock have averaged $22.90 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, Coen Stacy Ann, SVP & CHIEF BUSINESS OFFICER sold 100,210 shares of the company’s stock on Aug 09. The stock was sold for $1,422,982 at an average price of $14.20. Upon completion of the transaction, the SVP & CHIEF BUSINESS OFFICER now directly owns 10,960 shares in the company, valued at $0.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, CHIEF EXECUTIVE OFFICER Enyedy Mark J sold 992,397 shares of the business’s stock. A total of $16,831,053 was realized by selling the stock at an average price of $16.96. This leaves the insider owning 553,270 shares of the company worth $8.72 million. Insiders disposed of 3,240,412 shares of company stock worth roughly $51.07 million over the past 1 year. 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 POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $137,303,000. D. E. SHAW & CO., INC. invested $98,981,000 in shares of IMGN during the first quarter. In the first quarter, FAIRMOUNT FUNDS MANAGEMENT LLC acquired a new stake in ImmunoGen Inc. valued at approximately $95,026,000. HOOD RIVER CAPITAL MANAGEMENT LLC acquired a new stake in IMGN for approximately $47,023,000. BOXER CAPITAL, LLC purchased a new stake in IMGN valued at around $46,665,000 in the second quarter. In total, there are 302 active investors with 93.10% ownership of the company’s stock.
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 $16.84 and a two-hundred day moving average price translates $9.98 for the stock.
The latest earnings results from ImmunoGen Inc. (NASDAQ: IMGN) was released for Jun, 2023. 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.
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.
