Wall Street brokerages expect ImmunoGen, Inc. (NASDAQ:IMGN) to announce earnings per share of ($0.25) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for ImmunoGen’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.48). ImmunoGen posted earnings per share of ($0.46) in the same quarter last year, which indicates a positive year-over-year growth rate of 45.7%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, November 3rd.
According to Zacks, analysts expect that ImmunoGen will report full-year earnings of ($0.82) per share for the current fiscal year, with EPS estimates ranging from ($0.94) to ($0.71). For the next financial year, analysts expect that the business will post earnings of ($1.26) per share, with EPS estimates ranging from ($1.64) to ($0.88). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million for the quarter, compared to the consensus estimate of $30.59 million. The company’s revenue for the quarter was up 426.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.53) earnings per share.
Several equities research analysts recently commented on the company. Leerink Swann reaffirmed a “buy” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a research report on Monday, September 25th. Canaccord Genuity set a $8.00 price objective on ImmunoGen and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada raised ImmunoGen from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $12.00 in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. ImmunoGen presently has a consensus rating of “Hold” and an average target price of $8.05.
In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the stock in a transaction dated 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 owns 51,100 shares of the company’s stock, valued at $355,145. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.51% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of IMGN. FMR LLC lifted its holdings in ImmunoGen by 598.9% in the second quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after acquiring an additional 4,803,256 shares during the period. State Street Corp raised its stake in shares of ImmunoGen by 159.1% in the second quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock worth $29,450,000 after buying an additional 2,542,876 shares during the period. Redmile Group LLC raised its stake in shares of ImmunoGen by 30.8% in the second quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock worth $37,063,000 after buying an additional 1,228,002 shares during the period. Clearbridge Investments LLC raised its stake in shares of ImmunoGen by 6.5% in the first quarter. Clearbridge Investments LLC now owns 14,428,856 shares of the biotechnology company’s stock worth $55,840,000 after buying an additional 884,524 shares during the period. Finally, EAM Investors LLC bought a new position in shares of ImmunoGen in the second quarter worth about $4,144,000. 72.85% of the stock is currently owned by institutional investors.
Shares of ImmunoGen (IMGN) opened at 5.19 on Friday. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.84. The company’s market capitalization is $465.01 million. The stock’s 50 day moving average price is $6.74 and its 200-day moving average price is $5.80.
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ImmunoGen Company Profile
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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