With the current price of $3.79, the stock of ImmunoGen, Inc. (NASDAQ:IMGN) concluded the trading session seeing its price rise by 0.02 points or at a gain of 0.4% compared to its previous day’s closing price of $3.77. About 1.364 million shares of the stock changed hands on the day. The trading volume of IMGN’s shares during the past session compares with the stock’s average daily trading volume of 2.227 million shares. On the other hand, a float of 173 million shares and a weekly performance of 2.02% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for IMGN’s share which suggests that the stock, price of which is currently buoying between $3.731 and $3.87, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $4 to the stock.
The latest data released on August 14, 2020 shows that the short float in the ImmunoGen, Inc.’s stock is trending downward as short interest in IMGN shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the IMGN is currently comprised of 10.24% of the float as the volume of shorted shares declined by -124041 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 17.648 million shares from the previous figure of 17.772 million shares. Stock’s average intraday volume is now standing at 1.635 million shares which indicate that the days to cover the shorts are nearly 10.79449.
After concluding the day’s trading, price of ImmunoGen, Inc. (NASDAQ:IMGN) is up $0.08 over the week and it is -$0.37 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $7.07 that was attained on 02/14/20.
The stock has traded as low as $1.95 in past 52-week, and its current price is 94.1% above from that 52-week low price mark recorded on 03/19/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 2.25. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 44.56 as 14-days RSI of ImmunoGen, Inc. This means that the IMGN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 34.12%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $3.86 for the IMGN’s share while placing it at a 2nd resistance point of $3.93 to be settled at. But if the stock takes a plunge lower than the 1st support price of $3.72 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $3.66.
MACD oscillator is showing a reading of -0.02 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
H.C. Wainwright maintained its Buy recommendation for IMGN stock in a review note dated December 17, but moved the price target up from $5 to $9. The stock gets a Buy recommendation from analysts at H.C. Wainwright who changed the target price from $4 to $5 in their August 13 note to investors.Guggenheimanalysts downgraded their recommendation from Buy to Neutral on May 15.
The average rating of 2.22 for IMGN is placing the stock in bullish category at the moment. In a poll by Reuters including 9 analysts in it who kept tracking the ImmunoGen, Inc., 4 rated the stock as hold. Others were in different opinions for the IMGN. Out of remaining 5 analysts, 5 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
Projection by Zacks Consensus Estimates suggests that ImmunoGen, Inc. (NASDAQ:IMGN) will see its current-quarter revenues drop by nearly -99.9% to be decreased to about $15.29 million. Full-year revenue of the company is however forecasted to be fell to nearly -23.61% to bring $62.85 million in revenues against last year revenue of $82.27 million. Earnings, after adjustments, are likely to surge by 20% to post an EPS of -$0.18, while estimate for company’s full year earnings is -$0.69 per share with a growth rate of -1.43%.