Immunogen (IMGN) Trading With Heavy Volume Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Immunogen ( IMGN) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Immunogen as such a stock due to the following factors:

  • IMGN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.6 million.
  • IMGN traded 107,539 shares today in the pre-market hours as of 8:44 AM, representing 12.5% of its average daily volume.

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More details on IMGN:

ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. It develops its products using its antibody-drug conjugates technology. The company offers Kadcyla, an antibody-drug conjugate for the treatment of HER2-positive metastatic breast cancer. Currently there are 4 analysts that rate Immunogen a buy, 2 analysts rate it a sell, and 4 rate it a hold.

The average volume for Immunogen has been 1.5 million shares per day over the past 30 days. Immunogen has a market cap of $778.3 million and is part of the health care sector and drugs industry. The stock has a beta of 0.95 and a short float of 18.8% with 14.45 days to cover. Shares are up 47.9% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Immunogen as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.

Highlights from the ratings report include:
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Biotechnology industry and the overall market, IMMUNOGEN INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • IMGN has underperformed the S&P 500 Index, declining 22.65% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly underperformed compared to the Biotechnology industry average, but is greater than that of the S&P 500. The net income increased by 42.3% when compared to the same quarter one year prior, rising from -$37.45 million to -$21.62 million.
  • IMMUNOGEN INC has improved earnings per share by 43.2% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, IMMUNOGEN INC continued to lose money by earning -$0.84 versus -$0.87 in the prior year. This year, the market expects an improvement in earnings (-$0.71 versus -$0.84).
  • Net operating cash flow has significantly increased by 157.59% to $7.55 million when compared to the same quarter last year. In addition, IMMUNOGEN INC has also modestly surpassed the industry average cash flow growth rate of 153.45%.

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