ImmunoGen Gets a Buy Rating from Canaccord Genuity


In a report released yesterday, John Newman from Canaccord Genuity maintained a Buy rating on ImmunoGen (NASDAQ: IMGN), with a price target of $20. The company’s shares closed yesterday at $11.47.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 19.3% and a 47.0% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Aileron Therapeutics Inc.

Currently, the analyst consensus on ImmunoGen is Moderate Buy and the average price target is $14.80, representing a 29.0% upside.

In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $18 price target.

See today’s analyst top recommended stocks >>

Based on ImmunoGen’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $38.61 million. In comparison, last year the company had a GAAP net loss of $17.35 million.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, David Brannon Johnston, the CFO of IMGN sold 10,000 shares for a total of $115,300.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ImmunoGen, Inc. is a biotechnology company, which engages in discovering and developing antibody-drug conjugate therapies that meaningfully improve the lives of people with cancer. Its product candidates include Mirvetuximab soravtansine, Coltuximab ravtansine, IMGN7779, and IMGN632. The company was founded in March 1981 and is headquartered in Waltham, MA.

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