ImmunoGen Inc. [IMGN] stock Initiated by Barclays analyst, price target now $8

ImmunoGen Inc. [NASDAQ: IMGN] loss -2.72% on the last trading session, reaching $6.09 price per share at the time. The company report on October 3, 2022 that ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on September 30, 2022, the compensation committee of the Company’s Board of Directors approved grants of non-qualified stock option awards to purchase an aggregate of 1,067,850 shares of its common stock to thirty-seven new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”). The stock options were granted as an inducement material to the new employees’ becoming employees of ImmunoGen in accordance with Nasdaq Listing Rule 5635(c)(4).

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.

ImmunoGen Inc. represents 253.34 million in outstanding shares, while the company has a total market value of $1.38 billion with the latest information. IMGN stock price has been found in the range of $6.04 to $6.34.

If compared to the average trading volume of 3.10M shares, IMGN reached a trading volume of 3975394 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $11.21 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 1.90. 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.

Barclays have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 09, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $9 to $6. The new note on the price target was released on March 21, 2022, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another raise to $18, while BMO Capital Markets analysts kept a Outperform rating on IMGN stock. On December 01, 2021, analysts increased their price target for IMGN shares from 7 to 12.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.35, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 15.41. The Price to Book ratio for the last quarter was 6.15, with the Price to Cash per share for the same quarter was set at 1.65.

Trading performance analysis for IMGN stock

ImmunoGen Inc. [IMGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.10. With this latest performance, IMGN shares gained by 20.83% in over the last four-week period, additionally plugging by 18.02% over the last 6 months – not to mention a rise of 4.10% 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 62.19, with the RSI for the last a single of trading hit 64.33, and the three-weeks RSI is set at 59.77 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 5.49, while it was recorded at 6.18 for the last single week of trading, and 5.09 for the last 200 days.

ImmunoGen Inc. [IMGN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ImmunoGen Inc. [IMGN] shares currently have an operating margin of -174.80 and a Gross Margin at +97.11. ImmunoGen Inc.’s Net Margin is presently recorded at -199.41.

Return on Equity for this stock declined to -67.11, with Return on Assets sitting at -31.63.

ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 4.50.

An analysis of insider ownership at ImmunoGen Inc. [IMGN]

There are presently around $1,207 million, or 92.20% 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 21,741,458, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; STATE STREET CORP, holding 18,199,554 shares of the stock with an approximate value of $110.83 million in IMGN stocks shares; and BLACKROCK INC., currently with $108.87 million in IMGN stock with ownership of nearly 8.789% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 90 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 32,237,837 shares. Additionally, 108 investors decreased positions by around 26,686,839 shares, while 45 investors held positions by with 139,236,832 shares. The mentioned changes placed institutional holdings at 198,161,508 shares, according to the latest SEC report filing. IMGN stock had 28 new institutional investments in for a total of 8,103,547 shares, while 24 institutional investors sold positions of 3,831,633 shares during the same period.


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