ImmunoGen Inc. (IMGN) – The 22.57% Upside Potential Remains

ImmunoGen Inc. (NASDAQ: IMGN) is -4.21% lower on its value in year-to-date trading and has touched a low of $1.95 and a high of $7.07 in the current 52-week trading range. The IMGN stock was last observed hovering at around $4.89 in the recent trading session, with the current gains setting it 0.05% off its average median price target of $6.38 for the next 12 months. It is also 58.83% off the consensus price target high of $12.00 offered by 9 analysts, but current levels are -23.5% lower than the price target low of $4.00 for the same period.

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At last check, trading at $4.94, the stock is 7.74% and 9.68% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.44 million and changing 1.02% at the moment leaves the stock 24.44% off its SMA200. IMGN registered 104.60% gain for a year compared to 6-month loss of 5.62%. The firm has a 50-day simple moving average (SMA 50) of $4.7015 and a 200-day simple moving average (SMA200) of $4.3766.

The stock witnessed a 6.54% gain in the last 1 month and extending the period to 3 months gives it a 42.98%, and is 13.72% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.64% over the week and 6.86% over the month.

ImmunoGen Inc. (IMGN) has around 75 employees, a market worth around $830.08M and $87.00M in sales. Distance from 52-week low is 153.33% and -30.13% from its 52-week high. The company has generated returns on investments over the last 12 months (124.60%).

ImmunoGen Inc. (IMGN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ImmunoGen Inc. (IMGN) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ImmunoGen Inc. is expected to release its quarterly report on 07/24/2020 and quarterly earnings per share for the current quarter are estimated at -$0.17 with sales reaching $14.73M over the same period.The EPS is expected to grow by 41.80% this year, but quarterly earnings will post -23.30% year-over-year.

ImmunoGen Inc. (IMGN) Top Institutional Holders

262 institutions hold shares in ImmunoGen Inc. (IMGN), with 1.94M shares held by insiders accounting for 1.11% while institutional investors hold 77.47% of the company’s shares. The shares outstanding are 166.95M, and float is at 145.38M with Short Float at 8.20%. Institutions hold 76.61% of the Float.

The top institutional shareholder in the company is Wellington Management Company, LLP with over 19.15 million shares valued at $65.31 million. The investor’s holdings represent 10.98% of the IMGN Shares outstanding. As of Mar 30, 2020, the second largest holder is Redmile Group, LLC with 16.73 million shares valued at $57.06 million to account for 9.59% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 16.04 million shares representing 9.20% and valued at over $54.71 million, while Blackrock Inc. holds 7.81% of the shares totaling 13.62 million with a market value of $46.45 million.

ImmunoGen Inc. (IMGN) Insider Activity

A total of 12 insider transactions have happened at ImmunoGen Inc. (IMGN) in the last six months, with sales accounting for 6 and purchases happening 6 times. The most recent transaction is an insider sale by FOSTER DAVID G, the company’s V.P.-Fin., Prin. Acctg. Off. SEC filings show that FOSTER DAVID G sold 5,448 shares of the company’s common stock on Apr 02 at a price of $3.43 per share for a total of $18687.0. Following the sale, the insider now owns 21382.0 shares.

ImmunoGen Inc. disclosed in a document filed with the SEC on Feb 24 that Ryll Thomas (SVP, Technical Operations) sold a total of 16,790 shares of the company’s common stock. The trade occurred on Feb 24 and was made at $4.99 per share for $83782.0. Following the transaction, the insider now directly holds 75624.0 shares of the IMGN stock.

Still, SEC filings show that on Feb 24, Berkenblit Anna (SVP & Chief Medical Officer) disposed off 25,803 shares at an average price of $4.99 for $0.13 million. The insider now directly holds 98,089 shares of ImmunoGen Inc. (IMGN).

ImmunoGen Inc. (IMGN): Who are the competitors?

The company’s main competitors (and peers) include Eli Lilly and Company (LLY) that is trading 47.93% up over the past 12 months. Bristol-Myers Squibb Company (BMY) is 31.16% up on the 1-year trading charts. Short interest in the company’s stock has fallen -7.47% from the last report on May 14, 2020 to stand at a total of 12.81 million short shares sold with a short interest ratio of 4.87.

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