The price of Immunogen, Inc. (NASDAQ:IMGN) shares last traded on Wall Street rose 3.34% to $16.11.
Based on available information, 16 analysts follow 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 $15.59, this indicates a potential upside of 57.15 percent. IMGN stock price is now 6.81% away from the 50-day moving average and 31.24% away from the 200-day moving average. The market capitalization of the company currently stands at $4.29B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
Among analysts, 2 rate the stock a hold while 13 rate it a buy. 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, Coen Stacy Ann, SVP & CHIEF BUSINESS OFFICER sold 78,223 shares of the company’s stock on Nov 17. The stock was sold for $1,255,479 at an average price of $16.05. Upon completion of the transaction, the SVP & CHIEF BUSINESS OFFICER now directly owns 36,966 shares in the company, valued at $0.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 16, SVP & CHIEF BUSINESS OFFICER Coen Stacy Ann sold 4,100 shares of the business’s stock. A total of $65,641 was realized by selling the stock at an average price of $16.01. This leaves the insider owning 36,966 shares of the company worth $0.6 million. Insiders disposed of 3,562,635 shares of company stock worth roughly $57.39 million over the past 1 year. A total of 2.57% of the company’s stock is owned by insiders.
A candlestick chart of Immunogen, Inc. (NASDAQ: IMGN) showed a price of $15.71 on Friday morning. 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 $15.09 and a two-hundred day moving average price translates $12.33 for the stock.
The latest earnings results from Immunogen, Inc. (NASDAQ: IMGN) was released for Sep, 2023. 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.
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.
