In today’s recent session, 1,918,030 shares of the ImmunoGen, Inc.(NASDAQ:IMGN) have been traded, and its beta is 1.51. Most recently the company’s share price was $9.99, and it changed around $0.29 or 0.03% from the last close, which brings the market valuation of the company to $1.95 Billion. IMGN at last check was trading at a discount to its 52-week high of $10.88, offering almost -8.91% off that amount. The share price’s 52-week low was $1.95, which indicates that the recent value has risen by an impressive 80.48% since then. We note from ImmunoGen, Inc.’s average daily trading volume that its 10-day average is 6.92 Million shares, with the 3-month average coming to 2.7 Million.
ImmunoGen, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.1. If we narrow it down even further, the data shows that none out of 10 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended IMGN as a Hold, whereas 6 deemed it a Buy, and no one rated it as Underweight. ImmunoGen, Inc. is expected to report earnings per share of -$0.19 for the current quarter.
ImmunoGen, Inc. (NASDAQ:IMGN): Trading Information Today
Instantly IMGN has been showing a green trend so far today with a performance of 3.02% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $10.53 on Tuesday, Feb 16 increased the stock’s daily price by 5.18%. The company’s shares are currently up 0.55% year-to-date, but still down -0.0518 over the last five days. On the other hand, ImmunoGen, Inc. (NASDAQ:IMGN) is 0.35% up in the 30-day period. We can see from the shorts that 26.97 Million shares have been sold at a short interest cover period of 9.99 day(s).
The consensus price target as assigned by Wall Street analysts is $9.94, which translates to bears needing to reduce their stock price by -0.5% from its current value. Analyst projections state that IMGN is forecast to be at a low of $6 and a high of $17. In order for the stock price to hit the forecast high, the stock would need to surge +70.17% from its current level, while the stock would need to crash -39.94% from its current level to reach the projected low.
ImmunoGen, Inc. (IMGN) projections and forecasts
ImmunoGen, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +161.46 percent over the past six months and at a 212% annual growth rate that is well above the industry average of 17.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -11.8% in revenue this quarter, and will report a decline of -35.7% in the next quarter. The year-over-year growth rate is expected to be -47.2%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $16.97 Million in revenue for the current quarter. 7 analysts expect ImmunoGen, Inc. to make $19.06 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $13.29 Million and $14.59 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 27.7%. Forecasts for the next quarter put sales growth at 30.6%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.1%. ImmunoGen, Inc. earnings are expected to increase by 41.8% in 2021, but the outlook is negative 0% per year for the next five years.
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ImmunoGen, Inc. (NASDAQ:IMGN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.54% of ImmunoGen, Inc. shares, and 73.63% of them are in the hands of institutional investors. The stock currently has a share float of 74.02%. ImmunoGen, Inc. stock is held by 254 institutions, with Wellington Management Company, LLP being the largest institutional investor. By Sep 29, 2020, it held 11.85% of the shares, which is about 23.08 Million shares worth $83.09 Million.
Blackrock Inc., with 7.78% or 15.16 Million shares worth $97.76 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.