Does Immunogen, Inc. (NASDAQ:IMGN) warrant a purchase right now? What to Consider Before Making a Decision

Immunogen, Inc. (NASDAQ:IMGN) shares traded -0.76% lower at $15.64 on Wall Street last session.

In accordance with the data, 16 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 $28.00 and a low of $14.00, we find $24.50. Given the previous closing price of $15.76, this indicates a potential upside of 55.46 percent. IMGN stock price is now 3.72% away from the 50-day moving average and 28.56% away from the 200-day moving average. The market capitalization of the company currently stands at $4.16B.

It has been rated a hold by 2 analysts and a buy by 13. Brokers who have rated the stock have averaged $23.14 as their price target over the next twelve months.

With the price target of $25, Deutsche Bank recently initiated with Buy rating for Immunogen, Inc. (NASDAQ: IMGN).

In other news, Wingrove Theresa, SVP OF REGULATORY AFFAIRS sold 19,517 shares of the company’s stock on Nov 07. The stock was sold for $325,153 at an average price of $16.66. Upon completion of the transaction, the SVP OF REGULATORY AFFAIRS now directly owns 2,811 shares in the company, valued at $43964.04. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 06, VP & PRIN ACCTG OFFICER Lentini Renee sold 219,545 shares of the business’s stock. A total of $3,356,843 was realized by selling the stock at an average price of $15.29. Insiders disposed of 3,562,635 shares of company stock worth roughly $55.72 million over the past 1 year. A total of 1.91% of the company’s stock is owned by insiders.

Immunogen, Inc. (NASDAQ: IMGN) opened at $15.61 on Wednesday. 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 0.20, a current ratio of 5.70, and a quick ratio of 5.65. The fifty day moving average price for IMGN is $15.08 and a two-hundred day moving average price translates $12.22 for the stock.

The latest earnings results from Immunogen, Inc. (NASDAQ: IMGN) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at $0.1, beating analysts’ expectations of $0.04 by 0.06. This compares to -$0.31 EPS in the same period last year. The net profit margin was -25.56% and return on equity was -19.88% for IMGN. The company reported revenue of $113.42 million for the quarter, compared to $15.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 637.72 percent. For the current quarter, analysts expect IMGN to generate $127.51M 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.