The stock of ImmunoGen, Inc. (NASDAQ:IMGN) hit a new 52-week low and has $2.09 target or 10.00% below today’s $2.32 share price. The 6 months bearish chart indicates high risk for the $190.83 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $2.09 price target is reached, the company will be worth $19.08M 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 275,553 shares traded hands. ImmunoGen, Inc. (NASDAQ:IMGN) has declined 72.45% since March 14, 2016 and is downtrending. It has underperformed by 78.06% 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. Oppenheimer maintained it with “Outperform” rating and $24 target price in Wednesday, July 29 report. On Monday, August 3 the stock rating was downgraded by Cantor Fitzgerald to “Neutral”. The stock of ImmunoGen, Inc. (NASDAQ:IMGN) earned “Sector Perform” rating by RBC Capital Markets on Friday, April 29. Morgan Stanley downgraded ImmunoGen, Inc. (NASDAQ:IMGN) rating on Monday, September 21. Morgan Stanley has “Underweight” rating and $9 price target. As per Monday, July 27, the company rating was maintained by RBC Capital Markets. As per Monday, May 2, the company rating was maintained by Leerink Swann. The firm has “Buy” rating by Jefferies given on Wednesday, November 25. The stock has “Market Perform” rating given by Leerink Swann on Wednesday, October 28.
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.
Zacks Mngmt has invested 0% of its portfolio in ImmunoGen, Inc. (NASDAQ:IMGN). Millennium Limited Liability Corp accumulated 1.62 million shares or 0.01% of the stock. Whittier Trust Company has 6,900 shares for 0% of their US portfolio. Macquarie Grp Incorporated Ltd holds 930,000 shares or 0.01% of its portfolio. Sei Invs Com, a Pennsylvania-based fund reported 29 shares. First Republic Inv Mgmt Inc accumulated 21,849 shares or 0% of the stock. Renaissance Techs Limited Company reported 1.97 million shares or 0.01% of all its holdings. Us Financial Bank De reported 6,460 shares or 0% of all its holdings. Blackrock Invest Mngmt Ltd Limited Liability Company accumulated 0% or 318,234 shares. Alexandria Capital Limited Liability Corp holds 0% or 28 shares in its portfolio. Rhumbline Advisers owns 110,371 shares or 0% of their US portfolio. Northern last reported 0% of its portfolio in the stock. Hall Laurie J Trustee accumulated 0% or 560 shares. Los Angeles & Equity owns 135,415 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) owns 1,995 shares or 0% of their US portfolio.
Another recent and important ImmunoGen, Inc. (NASDAQ:IMGN) news was published by Businesswire.com which published an article titled: “ImmunoGen, Inc. Announces Conference Call to Discuss its Financial Results for …” on October 14, 2016.
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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