ImmunoGen Inc. (NASDAQ:IMGN) saw a downside of -16.00% to close Monday at $14.33 after subtracting -$2.73 on the day. The 5-day average trading volume is 8,627,860 shares of the company’s common stock. It has gained $18.42 in the past week and touched a new high 1 time within the past 5 days. An average of 5,450,240 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,916,708.
IMGN’s 1-month performance is -21.95% or -$4.03 on its low of $14.20 reached on 08/07/23. The company’s shares have touched a 52-week low of $3.61 and high of $20.69, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, IMGN has achieved 188.91% or $9.37 and has reached a new high 20 times. However, the current price is down -30.74% from the 52-week high price.
Insider Transactions
IMGN stock investors last saw insider trading activity on Aug 04.Enyedy Mark J (CHIEF EXECUTIVE OFFICER) most recently sold 992,397 shares at $16.96 per share on Aug 04. This transaction cost the insider $16,831,053. SVP & CHIEF BUSINESS OFFICER, Coen Stacy Ann, sold 80,326 shares at a price of $17.05 on Aug 04. Then, on Aug 03, CHIEF EXECUTIVE OFFICER Enyedy Mark J sold 1,020,000 shares at a price of $16.61 per share. This transaction amounted to $16,942,200.
Valuation Metrics
IMGN stock has a beta of 0.99. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 18.29 while the price-to-book (PB) in the most recent quarter is 7.70.
ImmunoGen Inc.’s quick ratio for the period ended June 29 was 7.10, with the current ratio over the same period at 7.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.15, while the total debt to equity was 0.15. In terms of profitability, the gross margin trailing 12 months is 99.10%. The trailing 12-month EBITDA margin is -201.42% while for the period ending June 29, ImmunoGen Inc.’s operating margin was -96.80%. The firm’s gross profit as reported stood at $108.61 million against revenue of $108.78 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -1359.29% to -$4.25 million, while revenue of -$41.01 million was -864.94% off the previous quarter. Analysts expected IMGN to announce -$0.14 per share in earnings in its latest quarter, but it posted -$0.02, representing a 85.70% surprise. EBITDA for the quarter stood at more than -$3.76 million. IMGN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 223.49 million, with total debt at $85.21 million. Shareholders hold equity totaling $248.94 million.
Let’s look briefly at ImmunoGen Inc. (IMGN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 24.53% to suggest the stock is trending oversold, with historical volatility in this time period at 107.65%.
The stock’s 5-day moving average is $16.68, reflecting a -19.58% or -$3.49 change from its current price. IMGN is currently trading -23.74% above its 20-day SMA, +245.30% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +4.83% and SMA200 by+128.91%.
Stochastic %K and %D was 5.91% and 10.33% and the average true range (ATR) pointed at 1.18. The RSI (14) points at 30.48%, while the 14-day stochastic is at 2.00% with the period’s ATR at 1.07. The stock’s 9-day MACD Oscillator is pointing at -1.47 and -1.96 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ImmunoGen Inc. (NASDAQ: IMGN), Piper Sandler upgraded it to an Overweight rating. They previously had a Neutral rating on the stock. Analysts offering their rating for IMGN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate IMGN as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.
What is IMGN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $13.00 and a high of $26.00, with their median price target at $24.00. Looking at these predictions, the average price target given by analysts is for ImmunoGen Inc. (IMGN) stock is $22.89.
