why ImmunoGen Inc. [IMGN] is a Good Choice for Investors After New Price Target of $12.33

ImmunoGen Inc. [NASDAQ: IMGN] price surged by 1.89 percent to reach at $0.08. The company report on April 24, 2023 at 6:30 AM that ImmunoGen Appoints Isabel Kalofonos as Senior Vice President and Chief Commercial Officer.

ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that Isabel Kalofonos has been appointed Senior Vice President and Chief Commercial Officer.

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“We are excited to welcome Isabel to ImmunoGen’s Executive Committee to lead our best-in-class commercial organization at this important moment for the company. Since the approval of ELAHERE® (mirvetuximab soravtansine-gynx) in late November for platinum-resistant ovarian cancer, we have made significant progress with the launch, highlighted by the breadth and depth of adoption, strong demand for FRα testing, and favorable market access coverage,” said Mark Enyedy, ImmunoGen’s President and Chief Executive Officer. “Isabel’s deep experience in global pipeline commercialization and product launches will enhance the strength of our launch execution and complement our existing capabilities as we seek to establish ELAHERE as the standard of care for FRα-positive platinum-resistant ovarian cancer, investigate its potential in platinum-sensitive disease, and advance our portfolio of earlier-stage ADCs.”.

A sum of 4369599 shares traded at recent session while its average daily volume was at 3.25M shares. ImmunoGen Inc. shares reached a high of $4.43 and dropped to a low of $4.215 until finishing in the latest session at $4.32.

The one-year IMGN stock forecast points to a potential upside of 64.96. The average equity rating for IMGN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $12.33 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.

Truist have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on September 09, 2022, representing the official price target for ImmunoGen Inc. stock. Previously, the target price had yet another drop from $9 to $6, while RBC Capital Mkts kept a Sector Perform rating on IMGN stock.

The Average True Range (ATR) for ImmunoGen Inc. is set at 0.22, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 8.74. The Price to Book ratio for the last quarter was 7.08, with the Price to Cash per share for the same quarter was set at 1.25.

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 4.10. With this latest performance, IMGN shares gained by 17.07% in over the last four-week period, additionally sinking by -28.60% over the last 6 months – not to mention a drop of -11.29% 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 57.15, with the RSI for the last a single of trading hit 59.85, and the three-weeks RSI is set at 54.69 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 4.01, while it was recorded at 4.20 for the last single week of trading, and 4.90 for the last 200 days.

Insight into ImmunoGen Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ImmunoGen Inc. [IMGN] shares currently have an operating margin of -203.06 and a Gross Margin at +98.20. ImmunoGen Inc.’s Net Margin is presently recorded at -204.93.

Return on Total Capital for IMGN is now -75.06, given the latest momentum, and Return on Invested Capital for the company is -78.74. Return on Equity for this stock declined to -92.61, with Return on Assets sitting at -50.97. When it comes to the capital structure of this company, ImmunoGen Inc. [IMGN] has a Total Debt to Total Equity ratio set at 30.39. Additionally, IMGN Total Debt to Total Capital is recorded at 23.31, with Total Debt to Total Assets ending up at 13.57. Long-Term Debt to Equity for the company is recorded at 22.20, with the Long-Term Debt to Total Capital now at 17.03.

Reflecting on the efficiency of the workforce at the company, ImmunoGen Inc. [IMGN] managed to generate an average of -$804,798 per employee. Receivables Turnover for the company is 6.82 with a Total Asset Turnover recorded at a value of 0.25.ImmunoGen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

ImmunoGen Inc. [IMGN] Insider Position Details

There are presently around $835 million, or 93.10% 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 21,853,958, which is approximately 0.517% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 18,016,002 shares of the stock with an approximate value of $76.39 million in IMGN stocks shares; and STATE STREET CORP, currently with $74.23 million in IMGN stock with ownership of nearly 19.961% of the company’s market capitalization.

Positions in ImmunoGen Inc. stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 91 institutional holders increased their position in ImmunoGen Inc. [NASDAQ:IMGN] by around 30,572,224 shares. Additionally, 108 investors decreased positions by around 35,257,944 shares, while 41 investors held positions by with 131,181,493 shares. The mentioned changes placed institutional holdings at 197,011,661 shares, according to the latest SEC report filing. IMGN stock had 25 new institutional investments in for a total of 9,413,129 shares, while 42 institutional investors sold positions of 11,562,803 shares during the same period.


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