Undoubtedly, ImmunoGen, Inc. (NASDAQ:IMGN) has been one of the most volatile stocks in the market in recent times, and the way it handled Thursday’s volatility suggests the stock may be poised to decline heading into short-terms. The shares dropped -0.02 points or -0.74 percent at $2.7 with a light trade volume of 1.866 million shares. After opening the session at $2.67, the shares went as high as $2.78 and as low as $2.67, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $411 million and now has 152.34 million shares outstanding. ImmunoGen, Inc. (IMGN) stock has lost -49.63 percent of market value in 21 trading days.
IMGN stock has a trailing 3-year beta of 2.42, offering the possibility of a higher rate of return, but also posing more risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$1.21 a share in the trailing twelve months. The stock’s value has fallen -43.75 percent year to date (YTD) against a decline of -77.31 percent in 12 month’s time. The company’s shares still trade -79.87 percent away from its 1-year high of $13.41 and 18.94 percent up from 52-week low of $2.27. The average consensus rating on the company is 2.3, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.
ImmunoGen, Inc. (IMGN) will probably climb 136.3 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $12-month high price target. This represents a whopping 344.44 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $3.5, which represents a return potential of 29.63 percent when compared to the closing price of the stock of $2.7 on Thursday, March 14. The lowest price target for the stock is $2.5 — slightly more than -7.41 percent from IMGN’s current share price.
History has shown that shares in ImmunoGen, Inc. have gone down on 22 different earnings reaction days and are predicted to add 0.05 percent when the company reports upcoming earnings. Investors will get their next glimpse of IMGN’s Q1 earnings on May 03. Analysts are forecasting revenue to suffer decline of -46.6 percent to $10.59M in the fiscal first quarter, while earnings are seen soaring by nearly -30 percent to -$0.21 per share. It earned -$0.28 per share, better than the -$0.32, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $13.79M, better than the $12.27M analysts expected. Earnings are estimated to increase by -23.2 percent this year, 10.1 percent next year and continue to increase by 0 percent annually for the next 5 years.
The stock is currently hovering around the first support level of $2.65. Below this, the next support is placed in the zone of $2.61. Till the time, the IMGN stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 28.64 on daily chart, which may remain a cause for comfort. If the price breaks below $2.61 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $2.76 mark may result into a pull-back move towards $2.83 level.
Further, it is sporting a 7.7 on the Price-to-Sales ratio. Compare this with the industry average P/S of 49.52.