ImmunoGen (NASDAQ:IMGN) Now Covered by Barclays

Equities researchers at Barclays assumed coverage on shares of ImmunoGen (NASDAQ:IMGNGet Rating) in a research report issued on Friday, The Fly reports. The firm set an “overweight” rating on the biotechnology company’s stock.

Separately, StockNews.com lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, ImmunoGen presently has an average rating of “Hold” and a consensus price target of $10.25.

ImmunoGen Stock Up 1.9 %

NASDAQ:IMGN opened at $5.46 on Friday. The business’s 50-day moving average price is $5.37 and its two-hundred day moving average price is $4.84. ImmunoGen has a twelve month low of $3.10 and a twelve month high of $7.77. The stock has a market cap of $1.21 billion, a P/E ratio of -7.91 and a beta of 0.90.

ImmunoGen (NASDAQ:IMGNGet Rating) last announced its quarterly earnings data on Friday, July 29th. The biotechnology company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $14.20 million for the quarter, compared to the consensus estimate of $16.18 million. ImmunoGen had a negative net margin of 179.64% and a negative return on equity of 67.02%. ImmunoGen’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. On average, equities research analysts expect that ImmunoGen will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunoGen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. bought a new position in ImmunoGen during the 1st quarter worth approximately $49,000. Nisa Investment Advisors LLC lifted its stake in shares of ImmunoGen by 116.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,390 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 5,600 shares during the period. HighTower Advisors LLC purchased a new position in shares of ImmunoGen in the 4th quarter valued at approximately $77,000. Bank of Montreal Can purchased a new position in shares of ImmunoGen in the 2nd quarter valued at approximately $47,000. Finally, NewEdge Wealth LLC purchased a new position in shares of ImmunoGen in the 2nd quarter valued at approximately $52,000. 95.58% of the stock is currently owned by institutional investors.

About ImmunoGen

(Get Rating)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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