Analyst Rating Update on ImmunoGen (IMGN)

ImmunoGen (IMGN) : 8 analysts are covering ImmunoGen (IMGN) and their average rating on the stock is 2.66, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

ImmunoGen (IMGN) stock is expected to deviate a maximum of $3.47 from the average target price of $9.36 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $15 and the most muted being $5.

For the current week, the company shares have a recommendation consensus of Buy.


ImmunoGen (NASDAQ:IMGN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.88 and $2.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.96, notching a gain of 2.78% for the day. The total traded volume was 1,077,894 . The stock had closed at $2.88 on the previous day.

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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