ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at Leerink Swann lifted their Q3 2017 earnings per share estimates for shares of ImmunoGen in a report issued on Thursday. Leerink Swann analyst M. Schmidt now forecasts that the biotechnology company will earn ($0.16) per share for the quarter, up from their previous estimate of ($0.17). Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.22) EPS, FY2017 earnings at ($0.71) EPS, FY2018 earnings at ($0.98) EPS, FY2019 earnings at ($1.04) EPS and FY2020 earnings at ($0.77) EPS.
A number of other equities analysts have also commented on IMGN. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a research note on Monday, June 26th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the stock a “hold” rating in a research note on Monday, June 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of ImmunoGen in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.05.
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Shares of ImmunoGen (NASDAQ IMGN) opened at 6.19 on Monday. The firm’s market capitalization is $554.61 million. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $8.84. The company has a 50 day moving average of $7.13 and a 200-day moving average of $5.68.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. The business’s revenue was up 426.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) earnings per share.
In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the transaction, the vice president now directly owns 51,100 shares of the company’s stock, valued at $355,145. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.51% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after buying an additional 186,730 shares during the period. Stifel Financial Corp lifted its stake in ImmunoGen by 14.2% in the first quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 12,907 shares during the period. Neuberger Berman Group LLC lifted its stake in ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 3,616 shares during the period. Geode Capital Management LLC lifted its stake in ImmunoGen by 3.5% in the first quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after buying an additional 22,991 shares during the period. Finally, Vanguard Group Inc. lifted its stake in ImmunoGen by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after buying an additional 27,141 shares during the period. 72.85% of the stock is currently owned by hedge funds and other institutional investors.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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