The stock of ImmunoGen, Inc. (NASDAQ:IMGN) is a huge mover today! About 648,470 shares traded hands. ImmunoGen, Inc. (NASDAQ:IMGN) has declined 68.97% since March 8, 2016 and is downtrending. It has underperformed by 78.29% the S&P500.
The move comes after 8 months negative chart setup for the $228.23M company. It was reported on Oct, 11 by Barchart.com. We have $2.16 PT which if reached, will make NASDAQ:IMGN worth $31.95 million less.
Analysts await ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings on October, 25. They expect $-0.37 earnings per share, up 5.13% or $0.02 from last year’s $-0.39 per share. After $-0.51 actual earnings per share 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. Cantor Fitzgerald downgraded it to “Neutral” rating and $21 target price in Monday, August 3 report. RBC Capital Markets downgraded the shares of IMGN in a report on Friday, April 29 to “Sector Perform” rating. The firm has “Outperform” rating by Oppenheimer given on Wednesday, July 29. On Monday, July 27 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was upgraded by Jefferies to “Buy” on Wednesday, November 25. As per Monday, May 2, the company rating was maintained by Leerink Swann. The company was downgraded on Monday, September 21 by Morgan Stanley. The company was maintained on Wednesday, October 28 by Leerink Swann.
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 improved, 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.
Alliancebernstein L P last reported 181,864 shares in the company. Wfg Advsr Lp, a Texas-based fund reported 40 shares. Trexquant Ltd Partnership holds 0.02% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN) for 57,444 shares. Moreover, Jpmorgan Chase And has 0% invested in ImmunoGen, Inc. (NASDAQ:IMGN) for 97 shares. Teacher Retirement Systems Of Texas has 0% invested in the company for 12,241 shares. Massmutual Trust Commerce Fsb Adv accumulated 0% or 200 shares. Deutsche Financial Bank Ag accumulated 1.46M shares or 0% of the stock. Envestnet Asset last reported 0% of its portfolio in the stock. Franklin Resource Inc last reported 0% of its portfolio in the stock. Moreover, Blackrock Japan has 0% invested in ImmunoGen, Inc. (NASDAQ:IMGN) for 1,661 shares. Fmr has 0% invested in the company for 3.22M shares. Pnc Financial Grp Incorporated holds 5,277 shares or 0% of its portfolio. Manufacturers Life The holds 60,936 shares or 0% of its portfolio. Numeric Invsts Ltd Liability reported 216,700 shares or 0.01% of all its holdings. Moreover, Amer Intl Grp Inc has 0% invested in ImmunoGen, Inc. (NASDAQ:IMGN) for 48,496 shares.
More news for ImmunoGen, Inc. (NASDAQ:IMGN) were recently published by: Fool.com, which released: “ImmunoGen, Inc. Gets the FDA Green Light (for Its Trial Design)” on August 09, 2016. Fool.com‘s article titled: “Why ImmunoGen, Inc. Bounded Higher Today” and published on July 18, 2016 is yet another important article.
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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