ImmunoGen Inc. [IMGN] shares are up more than 120.56% this year and recently increased 0.08% or $0.46 to settle at $5.93. IMGN has a short ratio of 6.22. This implies that the market is currently less bullish on the outlook for IMGN.

On 12, October 2020, ImmunoGen Raises $54.8 Million in Gross Proceeds Through its At-the-Market Facility. According to news published on Yahoo Finance, ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that it has raised gross proceeds of approximately $54.8 million through its At-the-Market (“ATM”) facility pursuant to its Open Market Sale AgreementSM dated as of September 25, 2020 with Jefferies LLC, as sales agent (the “Sale Agreement”), with participation based on interest received from multiple institutional investors. On October 9, 2020, the Company sold approximately 12.7 million shares of the Company’s common stock at a per share purchase price of $4.33, the market price at the time of sale.

Analyst Birdseye View:

The most recent analyst activity for ImmunoGen Inc. [NASDAQ:IMGN] stock was on September 29, 2020, when it was Resumed with a Neutral rating from JP Morgan. Before that, on October 02, 2020, Guggenheim Recapitulated a Buy rating and elevated its amount target to $14. On December 17, 2019, H.C. Wainwright Reiterated a Buy rating and boosted its price target on this stock from $5 to $9. On August 13, 2019, H.C. Wainwright Reiterated a Buy rating and increased its price target from $4 to $5. On May 15, 2019, Guggenheim Downgrade a Neutral rating. On May 06, 2019, H.C. Wainwright Upgrade a Buy rating and boosted its amount on this stock to $7. On May 06, 2019, Cowen Upgrade an Outperform rating.

In the past 52 weeks of trading, this stock has oscillated between a low of $1.95 and a peak of $7.07. Right now, according to Wall Street analyst the average 12-month amount target is $8.11. At the most recent market close, shares of ImmunoGen Inc. [NASDAQ:IMGN] were valued at $5.93. According to the average price forecast, investors can expect a potential return of -1.38%.

FUNDAMENTAL ANALYSIS

ImmunoGen Inc. [NASDAQ:IMGN] most recently reported quarterly sales of 15.03 billion, which represented growth of -3.20%. This publicly-traded organization’s revenue is $1,096,947 per employee, while its income is -$1,388,440 per employee.

The Principal structure of this organization shows its whole liability to whole principal at 202.50 and the whole liability to whole assets at 63.92. It shows enduring liability to the whole principal at 142.92 and enduring liability to assets at 0.45 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 5.28 points at 1st support level, the second support level is making up to 5.09. But as of 1st resistance point, this stock is sitting at 5.59 and at 5.71 for 2nd resistance point.

ImmunoGen Inc. [IMGN] reported its earnings at -$0.14 per share in the fiscal quarter closing of 6/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.17/share signifying the difference of 0.03 and 17.60% surprise value. Comparing the previous quarter ending of 3/30/2020, the stated earnings were -$0.17 calling estimates for -$0.15/share with the difference of -0.02 depicting the surprise of -13.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for ImmunoGen Inc. [NASDAQ:IMGN] is 2.70. Likewise, the Quick ratio is also the same, showing Cash ratio at 2.28. Now if looking for a valuation of this stock’s amount to sales ratio it’s 9.20.

Insider Stories

The most recent insider trade was by FOSTER DAVID G, V.P.-Fin., Prin. Acctg. Off., and it was the sale of 5448.0 shares on Apr 02. Ryll Thomas, the SVP, Technical Operations, completed a sale of 16790.0 shares on Feb 24. On Feb 24, Berkenblit Anna, SVP & Chief Medical Officer, completed a sale of 25803.0 shares.