why ImmunoGen Inc. [IMGN] is a Good Choice for Investors After New Price Target of $10.94


ImmunoGen Inc. [NASDAQ: IMGN] closed the trading session at $7.23 on 01/06/22. The day’s price range saw the stock hit a low of $6.70, while the highest price level was $7.376. The company report on January 3, 2022 that ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on December 31, 2021 the compensation committee of the Company’s Board of Directors granted a non-qualified stock option award to purchase 16,800 shares of its common stock to a new employee under the ImmunoGen, Inc. Inducement Equity Incentive Plan (the “Inducement Plan”). The stock options were granted as an inducement material to the new employee’s becoming an employee of ImmunoGen in accordance with Nasdaq Listing Rule 5635(c)(4).

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The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The stocks have a year to date performance of -2.56 percent and weekly performance of -2.95 percent. The stock has been moved at 13.68 percent over the last six months. The stock has performed 2.55 percent around the most recent 30 days and changed 19.70 percent over the most recent 3-months.

If compared to the average trading volume of 3.89M shares, IMGN reached to a volume of 3095016 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ImmunoGen Inc. [IMGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMGN shares is $10.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMGN stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 01, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on October 26, 2020, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another raise to $14, while Guggenheim analysts kept a Buy rating on IMGN stock.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.50, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 12.17. The Price to Book ratio for the last quarter was 19.03, with the Price to Cash per share for the same quarter was set at 1.14.

IMGN stock trade performance evaluation

ImmunoGen Inc. [IMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.95. With this latest performance, IMGN shares gained by 2.55% in over the last four-week period, additionally plugging by 13.68% over the last 6 months – not to mention a rise of 2.41% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMGN stock in for the last two-week period is set at 55.84, with the RSI for the last a single of trading hit 53.88, and the three-weeks RSI is set at 56.36 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 6.41, while it was recorded at 7.25 for the last single week of trading, and 6.38 for the last 200 days.

ImmunoGen Inc. [IMGN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ImmunoGen Inc. [IMGN] shares currently have an operating margin of -15.79. ImmunoGen Inc.’s Net Margin is presently recorded at -33.54.

Return on Total Capital for IMGN is now -15.30, given the latest momentum, and Return on Invested Capital for the company is -49.49. Return on Equity for this stock declined to -659.86, with Return on Assets sitting at -15.03. When it comes to the capital structure of this company, ImmunoGen Inc. [IMGN] has a Total Debt to Total Equity ratio set at 122.06. Additionally, IMGN Total Debt to Total Capital is recorded at 54.97, with Total Debt to Total Assets ending up at 30.79. Long-Term Debt to Equity for the company is recorded at 66.69, with the Long-Term Debt to Total Capital now at 30.03.

Reflecting on the efficiency of the workforce at the company, ImmunoGen Inc. [IMGN] managed to generate an average of -$561,671 per employee. Receivables Turnover for the company is 5.32 with a Total Asset Turnover recorded at a value of 0.45.ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

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ImmunoGen Inc. [IMGN]: Insider Ownership positions

There are presently around $1,201 million, or 83.80% of IMGN stock, in the hands of institutional investors. The top three institutional holders of IMGN stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 18,417,458, which is approximately 0% of the company’s market cap and around 0.56% of the total institutional ownership; BLACKROCK INC., holding 15,381,875 shares of the stock with an approximate value of $104.6 million in IMGN stocks shares; and ORBIMED ADVISORS LLC, currently with $101.31 million in IMGN stock with ownership of nearly 15.161% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 89 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 8,388,718 shares. Additionally, 97 investors decreased positions by around 12,422,795 shares, while 53 investors held positions by with 155,855,257 shares. The mentioned changes placed institutional holdings at 176,666,770 shares, according to the latest SEC report filing. IMGN stock had 27 new institutional investments in for a total of 3,769,621 shares, while 22 institutional investors sold positions of 2,321,698 shares during the same period.