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

ImmunoGen Inc. [NASDAQ: IMGN] plunged by -$0.75 during the normal trading session on Tuesday and reaching a high of $6.38 during the day while it closed the day at $5.01. The company report on November 14, 2022 that ImmunoGen Announces FDA Accelerated Approval of ELAHERE™ (mirvetuximab soravtansine-gynx) for the Treatment of Platinum-Resistant Ovarian Cancer.

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ELAHERE is the First ADC Approved by FDA for Platinum-Resistant Ovarian Cancer.

Indication Covers Patients with One to Three Prior Systemic Treatment Regimens, Regardless of Prior Avastin® Use.

ImmunoGen Inc. stock has also loss -12.11% of its value over the past 7 days. However, IMGN stock has declined by -13.32% in the 3 months of the year. Over the past six months meanwhile, it has gained 26.84% and lost -32.48% year-on date.

The market cap for IMGN stock reached $1.18 billion, with 253.51 million shares outstanding and 219.87 million shares in the current float. Compared to the average trading volume of 3.27M shares, IMGN reached a trading volume of 15938596 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 $11.25 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 0.48, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 12.39. The Price to Book ratio for the last quarter was 7.16, with the Price to Cash per share for the same quarter was set at 1.31.

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 -12.11. With this latest performance, IMGN shares dropped by -20.60% in over the last four-week period, additionally plugging by 26.84% over the last 6 months – not to mention a drop of -11.80% 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 39.92, with the RSI for the last a single of trading hit 36.57, and the three-weeks RSI is set at 42.71 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 5.44 for the last single week of trading, and 5.05 for the last 200 days.

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

ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.

ImmunoGen Inc. [IMGN]: Insider Ownership positions

There are presently around $996 million, or 95.90% 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; BLACKROCK INC., holding 17,445,026 shares of the stock with an approximate value of $87.4 million in IMGN stocks shares; and VANGUARD GROUP INC, currently with $78.28 million in IMGN stock with ownership of nearly -2.704% 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 104 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 23,451,553 shares. Additionally, 95 investors decreased positions by around 20,891,523 shares, while 48 investors held positions by with 154,545,536 shares. The mentioned changes placed institutional holdings at 198,888,612 shares, according to the latest SEC report filing. IMGN stock had 29 new institutional investments in for a total of 10,175,298 shares, while 23 institutional investors sold positions of 1,799,340 shares during the same period.


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