ImmunoGen Gets a Buy Rating from Jefferies

By Ryan Adsit

Jefferies analyst Eun Yang reiterated a Buy rating on ImmunoGen (NASDAQ: IMGN) on October 10 and set a price target of $9. The company’s shares closed yesterday at $6.62.

According to TipRanks.com, Yang is a 5-star analyst with an average return of 10.5% and a 57.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, DBV Technologies SA – American, and Iovance Biotherapeutics Inc.

Currently, the analyst consensus on ImmunoGen is Moderate Buy and the average price target is $10.80, representing a 63.1% upside.

In a report issued on October 2, RBC Capital also reiterated a Buy rating on the stock with a $12 price target.

The company has a one-year high of $8.84 and a one-year low of $1.51. Currently, ImmunoGen has an average volume of 3.67M.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.

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 develops novel anticancer therapeutics using its antibody-drug conjugate technology. Its product candidates include Mirvetuximab Soravtansine, Coltuximab ravtansine and Kadcyla . The company was founded in March 1981 and is headquartered in Waltham, MA.