ImmunoGen, Inc. (NASDAQ:IMGN) Receives Average Recommendation of “Hold” from Analysts

ImmunoGen, Inc. (NASDAQ:IMGN) has been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $25.77.

IMGN has been the topic of a number of analyst reports. Barclays reiterated an “equal weight” rating and set a $31.00 target price (up previously from $27.00) on shares of ImmunoGen in a report on Friday, December 1st. StockNews.com began coverage on ImmunoGen in a report on Monday. They set a “hold” rating for the company. Piper Sandler restated a “neutral” rating and set a $31.00 price objective (up from $24.00) on shares of ImmunoGen in a research note on Monday, December 4th. HC Wainwright lowered shares of ImmunoGen from a “buy” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $31.26 in a research report on Thursday, November 30th. Finally, William Blair lowered shares of ImmunoGen from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 30th.

ImmunoGen Price Performance

Shares of NASDAQ IMGN opened at $31.23 on Friday. The firm’s 50-day moving average is $30.70 and its two-hundred day moving average is $24.14. The company has a market capitalization of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18. ImmunoGen has a 12-month low of $3.61 and a 12-month high of $31.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.70 and a quick ratio of 5.65.

Insiders Place Their Bets

In other news, SVP Theresa Wingrove sold 187,667 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $29.64, for a total value of $5,562,449.88. Following the sale, the senior vice president now owns 3,426 shares of the company’s stock, valued at approximately $101,546.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ImmunoGen

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its stake in ImmunoGen by 20.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,421 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 4,548 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ImmunoGen by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 798,902 shares of the biotechnology company’s stock valued at $3,803,000 after acquiring an additional 52,243 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of ImmunoGen by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 108,476 shares of the biotechnology company’s stock worth $516,000 after acquiring an additional 38,679 shares in the last quarter. BlackRock Inc. grew its holdings in shares of ImmunoGen by 10.6% in the 1st quarter. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock worth $78,225,000 after acquiring an additional 1,569,629 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of ImmunoGen by 0.5% during the first quarter. Blair William & Co. IL now owns 538,410 shares of the biotechnology company’s stock worth $2,563,000 after purchasing an additional 2,925 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.

ImmunoGen 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.