CA Decreases Stake in ImmunoGen, Inc. (IMGN)

Ivan Schwartz
June 9, 2017

(NYSE:ANF) will report earnings per share of $-0.33 in their quarterly report. Wall Street analysts covering the stock are projecting that the stock will reach $5.23 within the next 52-weeks.

"IMGN's announced sale of IMGN529 to Debiopharm for an aggregate of $55 mln provides incremental cash to the company for development of.", Cantor Fitzgerald's analyst wrote. Institutional investors own 85.26% of the company's stock. Finally, Jefferies Group LLC reiterated a "buy" rating and issued a $6.00 price objective on shares of ImmunoGen in a research report on Thursday, May 18th.

Press coverage about ImmunoGen (NASDAQ:IMGN) has been trending somewhat positive recently, Alpha One Sentiment Analysis reports. Morgan Stanley decreased their price target on shares of ImmunoGen from $2.50 to $1.30 and set an underweight rating on the stock in a research note on Wednesday, March 1st. RBC Capital Markets downgraded the stock to "Sector Perform" rating in Friday, April 29 report. Cantor Fitzgerald reissued a "hold" rating and issued a $5.00 price target on shares of ImmunoGen in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Immunogen Inc (NASDAQ:IMGN) high price target of $8 and with a conservative view have low price target of $1.4.

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Shares of ImmunoGen (NASDAQ:IMGN) traded up 3.09% during midday trading on Monday, reaching $4.67. About 1.14 million shares traded.

Immunogen Inc (NASDAQ:IMGN) 52-week high price stands at $6.21 and low price stands at $1.51, its price distance from 52-week high is -18.68% while its distance from 52-week low price is 234.44%. The firm has a 50-day moving average of $4.47 and a 200-day moving average of $3.12. The company's market capitalization is $417.26 million. ImmunoGen, Inc. (NASDAQ:IMGN) has declined 3.49% since June 7, 2016 and is downtrending. On average, analysts predict that ImmunoGen, Inc. will post ($1.42) EPS for the current year.

The company reported an impressive total revenue of 21.51 Million in the last fiscal year. During the same period in the previous year, the business posted ($0.37) earnings per share. Ftb Advisors holds 0% of its portfolio in ImmunoGen, Inc. If you are reading this report on another publication, it was stolen and reposted in violation of United States and global trademark and copyright law. Cantor Fitzgerald has "Neutral" rating and $21 target.

Institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its stake in ImmunoGen by 148.6% in the first quarter. 1,376,192 shares of the company's stock were exchanged. Moloney Securities Asset Management LLC raised its stake in ImmunoGen by 36.2% in the first quarter. (NYSE:ANF) has high EPS estimates of $-0.23 in contradiction of low EPS estimates of $-0.45. Bank of New York Mellon Corp raised its position in ImmunoGen by 15.4% in the first quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company's stock valued at $201,000 after buying an additional 3,418 shares during the period. Janney Montgomery Scott LLC raised its position in ImmunoGen by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company's stock valued at $1,698,000 after buying an additional 58,516 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of ImmunoGen by 2.1% in the first quarter. The firm owned 53,444 shares of the biotechnology company's stock after buying an additional 28,744 shares during the period.

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