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

Shares of ImmunoGen, Inc. (NASDAQ:IMGN) have earned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.77.

IMGN has been the topic of several research reports. Guggenheim downgraded ImmunoGen from a “buy” rating to a “neutral” rating and raised their target price for the company from $25.00 to $31.00 in a research report on Friday, December 1st. Piper Sandler reissued a “neutral” rating and issued a $31.00 price target (up from $24.00) on shares of ImmunoGen in a research note on Monday, December 4th. Jefferies Financial Group restated a “hold” rating and set a $31.00 price target on shares of ImmunoGen in a research report on Friday, December 1st. StockNews.com assumed coverage on shares of ImmunoGen in a research note on Monday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets restated a “market perform” rating and issued a $31.00 price target on shares of ImmunoGen in a research report on Friday, December 1st.

ImmunoGen Stock Performance

Shares of ImmunoGen stock opened at $31.23 on Friday. ImmunoGen has a twelve month low of $3.61 and a twelve month high of $31.25. The firm’s 50-day moving average price is $30.70 and its 200 day moving average price is $24.14. The company has a current ratio of 5.70, a quick ratio of 5.65 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $8.32 billion, a PE ratio of -100.74 and a beta of 1.18.

Insider Buying and Selling

In other ImmunoGen news, SVP Theresa Wingrove sold 187,667 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $29.64, for a total value of $5,562,449.88. Following the transaction, the senior vice president now owns 3,426 shares of the company’s stock, valued at $101,546.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.07% of the company’s stock.

Institutional Investors Weigh In On ImmunoGen

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of ImmunoGen by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 25,466,950 shares of the biotechnology company’s stock worth $755,095,000 after purchasing an additional 984,795 shares during the period. BlackRock Inc. lifted its stake in ImmunoGen by 16.2% during the second quarter. BlackRock Inc. now owns 20,904,986 shares of the biotechnology company’s stock worth $394,477,000 after purchasing an additional 2,908,657 shares in the last quarter. State Street Corp boosted its position in shares of ImmunoGen by 32.8% during the second quarter. State Street Corp now owns 18,199,554 shares of the biotechnology company’s stock worth $81,898,000 after buying an additional 4,492,165 shares during the period. RA Capital Management L.P. grew its stake in shares of ImmunoGen by 471.8% in the third quarter. RA Capital Management L.P. now owns 13,322,288 shares of the biotechnology company’s stock valued at $211,425,000 after buying an additional 10,992,330 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of ImmunoGen by 35.9% in the 3rd quarter. Wellington Management Group LLP now owns 13,258,997 shares of the biotechnology company’s stock valued at $210,420,000 after buying an additional 3,506,098 shares during the period. 90.50% of the stock is currently owned by institutional investors and hedge funds.

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.