Market Analysts see ImmunoGen Inc. [IMGN] gaining to $16. Time to buy?

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ImmunoGen Inc. [NASDAQ: IMGN] plunged by -$1.03 during the normal trading session on Wednesday and reaching a high of $15.735 during the day while it closed the day at $14.64. The company report on September 18, 2023 at 5:00 PM 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 September 18, 2023, and in connection with the previously announced appointment of Ms. Lauren White as ImmunoGen’s Senior Vice President and Chief Financial Officer, the compensation committee of the Company’s Board of Directors (the “Compensation Committee”) approved grants of non-qualified stock options to purchase 295,975 shares of its common stock and restricted stock units (“RSUs”) covering 51,625 shares of its common stock under the Inducement Plan to Ms. White.

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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.

ImmunoGen Inc. stock has also loss -7.84% of its value over the past 7 days. However, IMGN stock has declined by -23.82% in the 3 months of the year. Over the past six months meanwhile, it has gained 271.45% and gained 195.06% year-on date.

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The market cap for IMGN stock reached $3.65 billion, with 263.45 million shares outstanding and 248.01 million shares in the current float. Compared to the average trading volume of 4.31M shares, IMGN reached a trading volume of 3912361 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 $23.60 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 1.70. 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.

Piper Sandler have made an estimate for ImmunoGen Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 03, 2023.

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The Average True Range (ATR) for ImmunoGen Inc. is set at 0.66, with the Price to Sales ratio for IMGN stock in the period of the last 12 months amounting to 19.26. The Price to Book ratio for the last quarter was 7.87, with the Price to Cash per share for the same quarter was set at 2.29.

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 -7.84. With this latest performance, IMGN shares dropped by -9.16% in over the last four-week period, additionally plugging by 271.45% over the last 6 months – not to mention a rise of 179.29% 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 35.32, with the RSI for the last a single of trading hit 28.10, and the three-weeks RSI is set at 39.71 for ImmunoGen Inc. [IMGN]. The present Moving Average for the last 50 days of trading for this stock 16.58, while it was recorded at 15.50 for the last single week of trading, and 10.19 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 -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 7.10 and a Current Ratio set at 7.10.

ImmunoGen Inc. [IMGN]: Institutional Ownership

The top three institutional holders of IMGN stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in IMGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in IMGN stock with ownership which is approximately 5.7381%.

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