Analyst Price Target Update on ImmunoGen (NASDAQ:IMGN)

ImmunoGen (NASDAQ:IMGN) stock has received a short term price target of $ 11.19 from 8 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $6.09. The higher estimate of target price is $24 , while the lower price target estimate is $5

Many analysts have stated their opinion on the company shares. RBC Capital downgrades its rating on ImmunoGen (NASDAQ:IMGN). Analysts at the RBC Capital have a current rating of Sector Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on May 2, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Executive Vice President) of Immunogen Inc, Lambert John had sold 3,889 shares worth of $31,968 in a transaction dated February 1, 2016. In this transaction, 3,889 shares were sold at $8.22 per share.

ImmunoGen (NASDAQ:IMGN) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.01 points or 0.2% at $4.95 with 1,252,438 shares getting traded. Post opening the session at $4.91, the shares hit an intraday low of $4.82 and an intraday high of $5.02 and the price was in this range throughout the day. The company has a market cap of $431 million and the number of outstanding shares have been calculated to be 87,076,978 shares. The 52-week high of ImmunoGen (NASDAQ:IMGN) is $19.43 and the 52-week low is $4.79.

ImmunoGen, Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Companys clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853), coltuximab ravtansine, IMGN529, and IMGN779. The Companys partners are Amgen Inc., Bayer HealthCare (a subgroup of Bayer AG), Biotest AG, Eli Lilly and Company (Lilly), Novartis Institutes for BioMedical Research, Inc. (Novartis), the Roche Group, Sanofi and Takeda. The Companys collaborative partner compounds include Kadcyla, Indatuximab ravtansine, Isatuximab, Anetumumab ravtansine, AMG 595, AMG 172, SAR566658, SAR408701, LOP628 and PCA062. All of the Companys compounds are ADCs with the exception of isatuximab, which is a therapeutic antibody.

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