ImmunoGen (IMGN) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 7

ImmunoGen (IMGN) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $18 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on ImmunoGen. Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Outperform” and Lowered the Price Target to $ 18 from a previous price target of $19 .

On the company’s financial health, ImmunoGen reported $-0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.31. The company had revenue of $19.71 million for the quarter, compared to analysts expectations of $21.67 million. The company’s revenue was up 72.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.25 EPS.

ImmunoGen closed down -0.02 points or -0.23% at $8.5 with 7,77,173 shares getting traded on Wednesday. Post opening the session at $8.42, the shares hit an intraday low of $8.2521 and an intraday high of $8.6 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 1, 2016, John Lambert (Executive Vice President) sold 3,889 shares at $8.22 per share price. According to the SEC, on Jan 11, 2016, Richard J. Gregory (Executive VP & CSO) sold 2,369 shares at $11.10 per share price. On Jan 4, 2016, Daniel M Junius (Chief Executive Officer) sold 5,416 shares at $13.17 per share price, according to the Form-4 filing with the securities and exchange commission.

ImmunoGen Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs) which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853) coltuximab ravtansine IMGN529 and IMGN779. The Company’s partners are Amgen Inc. Bayer HealthCare (a subgroup of Bayer AG) Biotest AG Eli Lilly and Company (Lilly) Novartis Institutes for BioMedical Research Inc. (Novartis) the Roche Group Sanofi and Takeda. The Company’s collaborative partner compounds include Kadcyla Indatuximab ravtansine Isatuximab Anetumumab ravtansine AMG 595 AMG 172 SAR566658 SAR408701 LOP628 and PCA062. All of the Company’s compounds are ADCs with the exception of isatuximab which is a therapeutic antibody.


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