Published On: Tue, Sep 13th, 2016

ImmunoGen Inc. (IMGN) Trading Up 0%

ImmunoGen Inc. (NASDAQ:IMGN) shares were up 0% during trading on Tuesday . The company traded as high as $2.80 and last traded at $2.69, with a volume of 890,431 shares trading hands. The stock had previously closed at $2.69.
A number of research analysts have recently commented on IMGN shares. Jefferies Group reissued a “buy” rating and set a $6.00 price target (down from $13.00) on shares of ImmunoGen in a report on Friday, August 5th. Zacks Investment Research raised ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a report on Wednesday, June 8th. JPMorgan Chase & Co. set a $5.00 price target on ImmunoGen and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.72.
The company’s market capitalization is $241.35 million. The firm’s 50-day moving average price is $2.93 and its 200-day moving average price is $5.36.

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ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.12. The company earned $7.41 million during the quarter, compared to analyst estimates of $17.11 million. ImmunoGen had a negative net margin of 239.42% and a negative return on equity of 530.98%. ImmunoGen’s quarterly revenue was down 41.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. Equities research analysts expect that ImmunoGen Inc. will post ($1.61) earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Wade G W & Inc. acquired a new position in shares of ImmunoGen during the second quarter valued at about $102,000. Northeast Financial Consultants Inc increased its position in shares of ImmunoGen by 102.0% in the second quarter. Northeast Financial Consultants Inc now owns 34,315 shares of the biotechnology company’s stock valued at $106,000 after buying an additional 17,330 shares during the last quarter. Wrapmanager Inc. increased its position in shares of ImmunoGen by 9.4% in the first quarter. Wrapmanager Inc. now owns 15,877 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 1,368 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of ImmunoGen by 3.6% in the second quarter. Nationwide Fund Advisors now owns 57,383 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 1,999 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of ImmunoGen during the second quarter valued at about $177,000. Hedge funds and other institutional investors own 91.63% of the company’s stock.
About ImmunoGen
ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.

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