The stock of ImmunoGen Inc. (NASDAQ:IMGN) increased by $0.75 on Monday to finish at $15.12, up 5.22 percent. The last five days have seen an average of 5,236,080 shares of common stock traded. 20 times new highs were reached in the current year, with a gain of $10.16. The average number of shares traded over the last 20 days was 5,986,730, while the average volume over the last 50 days totaled 5,937,810.
IMGN stock dropped -22.46% since last month. On 08/10/23, the company’s shares reached a one-month low of $13.83. The stock touched a high of $20.69 on 07/19/23, after rallying from a low of $3.61 in 52 weeks. The price of IMGN stock has risen by 204.84% or $10.16 this year, reaching a new high 20 times. Still, the stock price is down -26.92% from the 52-week high.
Insider Transactions
IMGN stock investors should be aware that ImmunoGen Inc. (IMGN) stock had its last reported insider trading activity 6 days ago on Aug 09. On Aug 09, SVP & CHIEF BUSINESS OFFICER Coen Stacy Ann sold 100,210 shares at $14.20 each. This transaction resulted in the insider making $1,422,982. On Aug 04, Enyedy Mark J sold 992,397 shares at a price of US$16.96. After the transaction, the insider now owns 553,270 shares. SVP & CHIEF BUSINESS OFFICER Coen Stacy Ann had earlier sold 80,326 shares on Aug 04 for $17.05 a share. The transaction was completed for $1,369,558.
Valuation Metrics
Beta for the stock is 1.02. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 19.47, the price-to-book (PB) ratio of 8.13.
Financial Health
For the three months ended June 29, ImmunoGen Inc.’s quick ratio was 7.10, while its current ratio was 7.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.15, and the total debt to equity ratio is 0.15. As far as profitability goes, gross margin for the trailing twelve months is 99.10% percent. ImmunoGen Inc.’s EBITDA margin for the year ended June 29 was -201.42%, whereas its operating margin stood at -96.80% for the same period. Based on annual data, it had gross profit of $108.61 million and revenue of $108.78 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IMGN’s return on assets (ROA) during the last 12 months has been -42.60%. There was a -142.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -76.90%.
Earnings Surprise
According to ImmunoGen Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $83.15 million, while revenues rose by 82.97% to $49.87 million. It was predicted that ImmunoGen Inc.’s quarterly earnings would be -$0.02, but it ended up being -$0.14, beating the consensus by 85.70%. EBITDA was -$3.76 million for the quarter. At the end of ImmunoGen Inc.’s most recent quarter ended June 29, its liabilities totaled 223.49 million, while its total debt was $85.21 million. Equity owned by shareholders amounts to $248.94 million.
Technical Picture
Here’s a quick look at ImmunoGen Inc.’s (IMGN) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 38.70%, suggesting the stock is Neutral, with a 99.03% historical volatility rate.
The stochastic %K and %D were 11.71% and 7.62% respectively, while the average true range (ATR) was 0.98. Based on the 14-day stochastic reading of 21.68%, the RSI (14) reading is 39.29%. On the 9-day MACD Oscillator, the stock is at -0.72, and the 14-day reading is at -1.85.
Analyst Ratings
In its most recent analyst report, Piper Sandler raised its rating on ImmunoGen Inc. (NASDAQ: IMGN) to an Overweight. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned ImmunoGen Inc. (IMGN) an Buy rating. IMGN is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 9 others recommend it as a buy.
What is IMGN’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.00 and $26.00, with a median target price of $24.00. In analyzing these forecasts, the average price target given by analysts for ImmunoGen Inc. (IMGN) is $22.89.
