Barclays slashes price target on ImmunoGen Inc. [IMGN] – find out why.

ImmunoGen Inc. [NASDAQ: IMGN] stock went on an upward path that rose over 7.29% on Thursday, amounting to a one-week price increase of more than 1.23%. The company report on November 4, 2022 that ImmunoGen Reports Recent Progress and Third Quarter 2022 Financial Results.

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Over the last 12 months, IMGN stock rose by 1.06%. The one-year ImmunoGen Inc. stock forecast points to a potential upside of 48.8. The average equity rating for IMGN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.34 billion, with 253.34 million shares outstanding and 219.83 million shares in the current float. Compared to the average trading volume of 3.27M shares, IMGN stock reached a trading volume of 4821919 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.39, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 14.98. The Price to Book ratio for the last quarter was 5.80, with the Price to Cash per share for the same quarter was set at 1.60.

IMGN Stock Performance Analysis:

ImmunoGen Inc. [IMGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.23. With this latest performance, IMGN shares dropped by 0.00% in over the last four-week period, additionally plugging by 49.48% over the last 6 months – not to mention a rise of 1.06% 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 50.93, with the RSI for the last a single of trading hit 50.59, and the three-weeks RSI is set at 51.56 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 5.61 for the last single week of trading, and 5.05 for the last 200 days.

Insight into ImmunoGen Inc. Fundamentals:

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

ImmunoGen Inc. [IMGN] Insider Position Details

There are presently around $1,200 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 $104.47 million in IMGN stocks shares; and BLACKROCK INC., currently with $102.62 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 November and at the time of the November reporting period, where 105 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 40,356,276 shares. Additionally, 98 investors decreased positions by around 15,344,874 shares, while 48 investors held positions by with 153,294,879 shares. The mentioned changes placed institutional holdings at 208,996,029 shares, according to the latest SEC report filing. IMGN stock had 31 new institutional investments in for a total of 12,159,922 shares, while 26 institutional investors sold positions of 3,805,000 shares during the same period.


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