Stocks of Immunogen, Inc. (NASDAQ:IMGN) traded higher last session on Wall Street, up 1.42% to $15.00.
According to the data, Immunogen, Inc. (NASDAQ:IMGN) has 13 analysts covering its stock. 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 $14.79, this indicates a potential upside of 62.27 percent. IMGN stock price is now -1.64% away from the 50-day moving average and 30.74% away from the 200-day moving average. The market capitalization of the company currently stands at $3.73B.
A total of 2 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $23.00 as their price target over the next twelve months.
With the price target of $16, Oppenheimer recently initiated with Perform rating for Immunogen, Inc. (NASDAQ: IMGN).
In other news, Wingrove Theresa, SVP OF REGULATORY AFFAIRS sold 192,004 shares of the company’s stock on Oct 16. The stock was sold for $2,764,858 at an average price of $14.40. Upon completion of the transaction, the SVP OF REGULATORY AFFAIRS now directly owns 2,811 shares in the company, valued at $42165.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, SVP OF REGULATORY AFFAIRS Wingrove Theresa sold 192,013 shares of the business’s stock. A total of $2,964,681 was realized by selling the stock at an average price of $15.44. This leaves the insider owning 2,811 shares of the company worth $42165.0. Insiders disposed of 3,552,635 shares of company stock worth roughly $53.29 million over the past 1 year. A total of 1.94% 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 $130,682,000. D. E. SHAW & CO., INC. invested $94,208,000 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 $90,444,000. HOOD RIVER CAPITAL MANAGEMENT LLC acquired a new stake in IMGN for approximately $44,755,000. BOXER CAPITAL, LLC purchased a new stake in IMGN valued at around $44,415,000 in the second quarter. In total, there are 302 active investors with 91.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $14.92 for Immunogen, Inc. (NASDAQ: IMGN). 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 0.23, a current ratio of 7.14, and a quick ratio of 7.11. The fifty day moving average price for IMGN is $15.24 and a two-hundred day moving average price translates $11.53 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 -96.02% and return on equity was -49.15% 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 $106.04M 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.
