The stock of ImmunoGen, Inc. (NASDAQ:IMGN) is a huge mover today! About 672,813 shares traded hands. ImmunoGen, Inc. (NASDAQ:IMGN) has declined 65.21% since March 1, 2016 and is downtrending. It has underperformed by 74.45% the S&P500.
The move comes after 7 months positive chart setup for the $223.67 million company. It was reported on Oct, 4 by Barchart.com. We have $7.80 PT which if reached, will make NASDAQ:IMGN worth $445.10 million more.
Analysts await ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings on October, 25. They expect $-0.37 EPS, up 5.13% or $0.02 from last year’s $-0.39 per share. After $-0.51 actual EPS reported by ImmunoGen, Inc. for the previous quarter, Wall Street now forecasts -27.45% EPS growth.
ImmunoGen, Inc. (NASDAQ:IMGN) Ratings Coverage
Out of 6 analysts covering Immunogen (NASDAQ:IMGN), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Immunogen has been the topic of 8 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of ImmunoGen, Inc. (NASDAQ:IMGN) earned “Underweight” rating by Morgan Stanley on Monday, September 21. The firm has “Market Perform” rating by Leerink Swann given on Wednesday, October 28. The firm earned “Sector Perform” rating on Friday, April 29 by RBC Capital Markets. On Wednesday, November 25 the stock rating was upgraded by Jefferies to “Buy”. The company was maintained on Monday, May 2 by Leerink Swann. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, July 29. The firm has “Neutral” rating by Cantor Fitzgerald given on Monday, August 3. RBC Capital Markets maintained it with “Outperform” rating and $20 target price in Monday, July 27 report.
According to Zacks Investment Research, “ImmunoGen, Inc. develops pharmaceuticals, primarily for the treatment of cancer. The company’s product candidates are called tumor-activated prodrugs and are based on its proprietary immunoconjugate technology platform. Unlike conventional chemotherapeutic agents, tumor-activated prodrugs are intended to deliver potent chemotherapy specifically to a tumor. Each tumor-activated drug immunoconjugate comprises a small-molecule drug which has been chemically linked to a monoclonal antibody.”
Insitutional Activity: The institutional sentiment increased to 1.65 in 2016 Q2. Its up 0.47, from 1.18 in 2016Q1. The ratio increased, as 21 funds sold all ImmunoGen, Inc. shares owned while 28 reduced positions. 32 funds bought stakes while 49 increased positions. They now own 79.39 million shares or 6.04% more from 74.87 million shares in 2016Q1.
Focused Wealth Mgmt Inc holds 0% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN) for 100 shares. Principal Group Inc Inc owns 15,101 shares or 0% of their US portfolio. Northern Tru Corporation accumulated 1.01 million shares or 0% of the stock. Panagora Asset Mgmt, a Massachusetts-based fund reported 238,155 shares. Bb&T Lc holds 0% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN) for 29,208 shares. Great West Life Assurance Can accumulated 0% or 9,004 shares. Pnc Financial Svcs last reported 0% of its portfolio in the stock. Legal And General Gru Public Limited Company holds 0% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN) for 21,724 shares. Nationwide Fund Advsrs last reported 57,383 shares in the company. Whittier Company accumulated 6,900 shares or 0% of the stock. Css Ltd Liability Co Il owns 18,500 shares or 0% of their US portfolio. Geode Management Llc last reported 621,144 shares in the company. Wade G W reported 33,264 shares or 0.02% of all its holdings. Gru One Trading Limited Partnership accumulated 29,325 shares or 0% of the stock. Credit Agricole S A reported 26,000 shares or 0% of all its holdings.
IMGN Company Profile
ImmunoGen, Inc., incorporated on March 27, 1981, is a clinical-stage biotechnology firm that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Firm is engaged in the discovery of monoclonal antibody anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target. The Company’s product candidates include Mirvetuximab soravtansine; IMGN779; IMGN632; IMGN529, and Coltuximab ravtansine. The Company’s portfolio is led by Mirvetuximab soravtansine, a first-in-class ADC targeting folate-receptor alpha (Fra). The Company’s FORWARD II consists of cohorts assessing Mirvetuximab soravtansine in combination with, in separate doublets, Avastin (bevacizumab), pegylated liposomal doxorubicin (PLD), and carboplatin. It has also entered into a collaboration with Merck, under which Merck is focused on providing Keytruda (pembrolizumab) for evaluation in combination with mirvetuximab soravtansine as part of the FORWARD II study. The Firm has built a platform that continues to generate ADCs, including IMGN779, its CD33-targeting product candidate for acute myeloid leukemia (AML). IMGN779 integrates one of its deoxyribonucleic acid (DNA)-alkylating IGN payload agents and is progressing through dose escalation in a Phase I trial in AML. It is also advancing IMGN632, a preclinical CD123-targeting ADC that uses IGN payload agent with a new engineered linker and an antibody, which it is developing for hematological malignancies, including AML.
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