Analyst Rating Update on ImmunoGen (IMGN)

ImmunoGen (NASDAQ:IMGN) : The consensus on ImmunoGen (NASDAQ:IMGN) based on 9 analyst recommendation on the company stock is 2.48, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

ImmunoGen (NASDAQ:IMGN) : 8 Wall Street analysts covering ImmunoGen (NASDAQ:IMGN) believe that the average level the stock could reach for the short term is $11.19. The maximum price target given is $24 and the minimum target for short term is around $5, hence the standard deviation is calculated at $6.09.

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

ImmunoGen (NASDAQ:IMGN): stock turned positive on Tuesday. Though the stock opened at $3.09, the bulls momentum made the stock top out at $3.2 level for the day. The stock recorded a low of $3.05 and closed the trading day at $3.18, in the green by 6.71%. The total traded volume for the day was 2,085,137. The stock had closed at $2.98 in the previous days trading.

In an insider trading activity, 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, 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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