Price Target Update on ImmunoGen (NASDAQ:IMGN)

ImmunoGen (NASDAQ:IMGN) : The highest level ImmunoGen (NASDAQ:IMGN) is projected to reach is $24 for the short term and the lowest estimate is at $5. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $11.19 and the possibility the share price can swing is $6.09.

Other Equity analysts have also commented on the company shares. Brokerage firm RBC Capital downgrades its rating on ImmunoGen (NASDAQ:IMGN). The shares have been rated Sector Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on May 2, 2016.

ImmunoGen (NASDAQ:IMGN): stock turned positive on Thursday. Though the stock opened at $3.31, the bulls momentum made the stock top out at $3.36 level for the day. The stock recorded a low of $3.26 and closed the trading day at $3.32, in the green by 2.15%. The total traded volume for the day was 3,555,606. The stock had closed at $3.25 in the previous days trading.

The company shares have dropped -77.14% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $19.43 and the one year low was seen on Jun 22, 2016. The 50-Day Moving Average price is $5.18 and the 200 Day Moving Average price is recorded at $8.31. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Lambert John, officer (Executive Vice President) of Immunogen Inc, had unloaded 3,889 shares at an average price of $8.22 in a transaction dated on February 1, 2016. The total value of the transaction was worth $31,968.

ImmunoGen, Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Companys 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 Companys 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 Companys collaborative partner compounds include Kadcyla, Indatuximab ravtansine, Isatuximab, Anetumumab ravtansine, AMG 595, AMG 172, SAR566658, SAR408701, LOP628 and PCA062. All of the Companys compounds are ADCs with the exception of isatuximab, which is a therapeutic antibody.

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