ImmunoGen Inc. (NASDAQ:IMGN) shares traded 2.02% higher at $14.93 on Wall Street last session.
In accordance with the data, 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 $14.64, this indicates a potential upside of 63.93 percent. IMGN stock price is now -9.98% away from the 50-day moving average and 46.55% away from the 200-day moving average. The market capitalization of the company currently stands at $3.73B.
It has been rated a hold by 1 analysts and a buy by 10. 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, Wingrove Theresa, SVP OF REGULATORY AFFAIRS sold 192,013 shares of the company’s stock on Sep 15. The stock was sold for $2,964,681 at an average price of $15.44. Upon completion of the transaction, the SVP OF REGULATORY AFFAIRS now directly owns 2,811 shares in the company, valued at $41968.23. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 09, SVP & CHIEF BUSINESS OFFICER Coen Stacy Ann sold 100,210 shares of the business’s stock. A total of $1,422,982 was realized by selling the stock at an average price of $14.20. This leaves the insider owning 10,960 shares of the company worth $0.16 million. Insiders disposed of 3,340,622 shares of company stock worth roughly $49.88 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 $130,072,000. D. E. SHAW & CO., INC. invested $93,768,000 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 $90,022,000. HOOD RIVER CAPITAL MANAGEMENT LLC acquired a new stake in IMGN for approximately $44,546,000. BOXER CAPITAL, LLC purchased a new stake in IMGN valued at around $44,208,000 in the second quarter. In total, there are 302 active investors with 93.10% ownership of the company’s stock.
ImmunoGen Inc. (NASDAQ: IMGN) opened at $14.50 on Thursday. 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 $16.51 and a two-hundred day moving average price translates $10.23 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 $102.49M 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.
