Notable Runner: After Touching 52 Week Low, Is ImmunoGen, Inc.’s Near-Term Analysis Negative?

Notable Runner: After Touching 52 Week Low, Is ImmunoGen, Inc.'s Near Term Analysis Negative?

The stock of ImmunoGen, Inc. (NASDAQ:IMGN) hit a new 52-week low and has $2.12 target or 14.00% below today’s $2.46 share price. The 8 months bearish chart indicates high risk for the $212.25 million company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $2.12 price target is reached, the company will be worth $29.72 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 224,896 shares traded hands. ImmunoGen, Inc. (NASDAQ:IMGN) has declined 67.84% since March 10, 2016 and is downtrending. It has underperformed by 75.36% the S&P500.

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 rating was maintained by Oppenheimer on Wednesday, July 29 with “Outperform”. The company was upgraded on Wednesday, November 25 by Jefferies. The firm has “Market Perform” rating by Leerink Swann given on Monday, May 2. On Wednesday, October 28 the stock rating was maintained by Leerink Swann with “Market Perform”. Morgan Stanley downgraded ImmunoGen, Inc. (NASDAQ:IMGN) on Monday, September 21 to “Underweight” rating. On Friday, April 29 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. Cantor Fitzgerald downgraded ImmunoGen, Inc. (NASDAQ:IMGN) rating on Monday, August 3. Cantor Fitzgerald has “Neutral” rating and $21 price target. RBC Capital Markets maintained ImmunoGen, Inc. (NASDAQ:IMGN) rating on Monday, July 27. RBC Capital Markets has “Outperform” rating and $20 price target.

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 is positive, 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.
Front Barnett Assoc Limited Liability Corp owns 14,190 shares or 0.01% of their US portfolio. Principal, a Iowa-based fund reported 15,101 shares. Price T Rowe Incorporated Md reported 74,200 shares or 0% of all its holdings. The New York-based Tiaa Cref Invest Management Ltd Liability Co has invested 0% in ImmunoGen, Inc. (NASDAQ:IMGN). Fifth Third National Bank holds 0% or 6,700 shares in its portfolio. First Manhattan accumulated 3,046 shares or 0% of the stock. Twin Focus Cap Limited Co accumulated 113,216 shares or 0.28% of the stock. Blackrock Advisors Ltd Liability last reported 100,024 shares in the company. The Tennessee-based Ftb Advsr Inc has invested 0% in ImmunoGen, Inc. (NASDAQ:IMGN). Platinum Investment Limited accumulated 0.01% or 90,600 shares. Jpmorgan Chase And Com owns 97 shares or 0% of their US portfolio. First Republic Inv has 21,849 shares for 0% of their US portfolio. Tudor Inv Corporation Et Al accumulated 0% or 63,300 shares. Comerica Bancorp accumulated 0% or 12,897 shares. New York State Common Retirement Fund holds 0% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN) for 84,300 shares.

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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