Economy

Positive News Coverage Somewhat Likely to Affect ImmunoGen (IMGN) Stock Price

Positive News Coverage Somewhat Likely to Affect ImmunoGen (IMGN) Stock Price

Mastech Digital Inc (MHH) formed multiple bottom with $6.40 target or 3.00% below today's $6.60 share price.

According to Zacks, "ImmunoGen has made significant progress with regard to its lead pipeline candidate, mirvetuximab soravtansine (platinum-resistant ovarian cancer)". The company's shares have outperformed the broader industry so far this year. Moreover, Palisade Limited Co Nj has 0% invested in ImmunoGen, Inc. However, most of the pipeline candidates are in early stages of development and still a long way from entering the market, if at all. "Hence successful development and subsequent approval of its lead pipeline candidate, mirvetuximab soravtansine (platinum-resistant ovarian cancer), is crucial for growth at ImmunoGen".

IMGN has been the topic of several other reports.

ImmunoGen, Inc. (NASDAQ:IMGN) was upgraded by equities researchers at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a report released on Thursday, Marketbeat.com reports. ValuEngine upgraded ImmunoGen from a sell rating to a hold rating in a research report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a "buy" rating and set a $6.00 target price on shares of ImmunoGen in a research note on Wednesday, April 12th. Finally, Cantor Fitzgerald restated a hold rating and set a $5.00 price target on shares of ImmunoGen in a research report on Monday, May 8th.

In the last reported quarter, Immunogen Inc reported its Actual EPS (earnings per share) of $-0.2/share where most of the analysts working on this stock were estimating the EPS to be $-0.34/share. Throughout the trading on Jul. 10, 2017, the share price floated between $7.29 and $7.87. The company's stock had a trading volume of 2,606,745 shares. Clearbridge Investments, Llc owns $111.54 million in ImmunoGen, Inc., which represents roughly 17.38% of the company's market cap and approximately 21.37% of the institutional ownership. The stock has a 50 day moving average of $5.12 and a 200 day moving average of $3.52. The company rocked its 52-Week High of $8.04 and touched its 52-Week Low of $1.51.

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Equities analysts predict that ImmunoGen will post ($1.30) earnings per share for the current fiscal year.

So the company beats the analysts estimate by $0.14/share showing a surprise of 41.2%. The firm had revenue of $28.70 million for the quarter, compared to analysts' expectations of $16.16 million. During the same quarter in the previous year, the business earned ($0.37) EPS. The firm's revenue was up 45.7% on a year-over-year basis.

TRADEMARK VIOLATION NOTICE: "ImmunoGen, Inc". If you are reading this news story on another site, it was copied illegally and reposted in violation of USA & worldwide copyright and trademark laws.

WARNING: "ImmunoGen, Inc. (IMGN) Given Outperform Rating at Leerink Swann" was published by Transcript Daily and is owned by of Transcript Daily. Redmile Group LLC bought a new position in ImmunoGen during the first quarter valued at about $15,421,000. Norges Bank purchased a new stake in ImmunoGen during the fourth quarter valued at $3,123,000. Acadian Asset Management LLC acquired a new position in shares of ImmunoGen during the first quarter valued at $117,000. The Lumbard & Kellner Llc holds 40,731 shares with $83,000 value, down from 351,565 last quarter. NY acquired a new stake in shares of ImmunoGen during the first quarter valued at approximately $257,000. Parametric Portfolio Associates LLC raised its stake in ImmunoGen by 7.7% in the first quarter. Bank of America Corp DE now owns 1,339,518 shares of the biotechnology company's stock worth $5,183,000 after buying an additional 127,695 shares during the period.

Large investors have recently modified their holdings of the company.


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