Fintel reports that on October 6, 2023, Oppenheimer initiated coverage of Immunogen (NASDAQ:IMGN) with a Perform recommendation.
Analyst Price Forecast Suggests 53.72% Upside
As of October 5, 2023, the average one-year price target for Immunogen is 24.07. The forecasts range from a low of 13.13 to a high of $28.35. The average price target represents an increase of 53.72% from its latest reported closing price of 15.66.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Immunogen is 158MM, a decrease of 16.91%. The projected annual non-GAAP EPS is -0.87.
What is the Fund Sentiment?
There are 533 funds or institutions reporting positions in Immunogen. This is an increase of 140 owner(s) or 35.62% in the last quarter. Average portfolio weight of all funds dedicated to IMGN is 0.31%, an increase of 289.27%. Total shares owned by institutions increased in the last three months by 5.72% to 249,360K shares. 
The put/call ratio of IMGN is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Redmile Group holds 17,730K shares representing 7.12% ownership of the company. In it's prior filing, the firm reported owning 8,046K shares, representing an increase of 54.62%. The firm increased its portfolio allocation in IMGN by 857.84% over the last quarter.
Janus Henderson Group holds 15,500K shares representing 6.23% ownership of the company. In it's prior filing, the firm reported owning 16,450K shares, representing a decrease of 6.13%. The firm increased its portfolio allocation in IMGN by 330.88% over the last quarter.
Wellington Management Group Llp holds 9,753K shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 9,865K shares, representing a decrease of 1.15%. The firm increased its portfolio allocation in IMGN by 363.62% over the last quarter.
Point72 Asset Management holds 8,712K shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,079K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 6,847K shares, representing an increase of 15.25%. The firm increased its portfolio allocation in IMGN by 434.98% over the last quarter.
Immunogen Background Information
(This description is provided by the company.)
ImmunoGen is developing the next generation of antibody-drug conjugates to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and favorable tolerability profiles, the company aims to disrupt the progression of cancer and offer its patients more good days.
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