ImmunoGen (IMGN) Trading Up 9.4%

ImmunoGen, Inc. (NASDAQ:IMGN) shares were up 9.4% during trading on Thursday . The stock traded as high as $6.00 and last traded at $5.94. Approximately 6,706,499 shares changed hands during mid-day trading, an increase of 151% from the average daily volume of 2,667,447 shares. The stock had previously closed at $5.43.

Several research analysts have commented on IMGN shares. BidaskClub cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Cowen reiterated a “hold” rating on shares of ImmunoGen in a report on Friday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of ImmunoGen in a report on Monday, July 30th. Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Piper Jaffray Companies began coverage on shares of ImmunoGen in a report on Thursday, September 6th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. ImmunoGen has an average rating of “Buy” and an average target price of $14.75.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.73 and a current ratio of 5.76. The firm has a market cap of $844.95 million, a PE ratio of -7.56 and a beta of 2.49.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.01. The company had revenue of $10.90 million during the quarter, compared to the consensus estimate of $13.60 million. The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.61) earnings per share. Sell-side analysts expect that ImmunoGen, Inc. will post -1.28 EPS for the current fiscal year.

In other news, VP Anna Berkenblit sold 5,851 shares of the stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $8.00, for a total value of $46,808.00. Following the completion of the transaction, the vice president now directly owns 132,769 shares in the company, valued at $1,062,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.44% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IMGN. SG Americas Securities LLC acquired a new stake in ImmunoGen during the second quarter valued at approximately $115,000. Signition LP acquired a new stake in ImmunoGen during the third quarter valued at approximately $115,000. Private Advisor Group LLC acquired a new stake in ImmunoGen during the second quarter valued at approximately $131,000. Great West Life Assurance Co. Can lifted its stake in ImmunoGen by 75.1% during the second quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 6,763 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in ImmunoGen during the third quarter valued at approximately $185,000. 83.76% of the stock is owned by institutional investors and hedge funds.

ImmunoGen Company Profile (NASDAQ:IMGN)

ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.

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