ImmunoGen (NASDAQ:IMGN) – Stock analysts at William Blair upped their Q1 2018 earnings per share (EPS) estimates for ImmunoGen in a research report issued on Monday, April 16th. William Blair analyst A. Hsieh now forecasts that the biotechnology company will earn ($0.25) per share for the quarter, up from their previous forecast of ($0.27). William Blair also issued estimates for ImmunoGen’s Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.26) EPS, Q4 2018 earnings at ($0.26) EPS, FY2018 earnings at ($1.03) EPS, FY2019 earnings at ($1.17) EPS and FY2020 earnings at ($1.26) EPS.
A number of other equities analysts have also issued reports on IMGN. ValuEngine lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Tuesday, April 10th. HC Wainwright set a $18.00 target price on shares of ImmunoGen and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Zacks Investment Research lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Monday. Leerink Swann restated an “outperform” rating on shares of ImmunoGen in a research report on Monday, March 26th. Finally, BidaskClub lowered shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.79.
Shares of IMGN opened at $10.19 on Wednesday. The company has a debt-to-equity ratio of -0.11, a quick ratio of 4.94 and a current ratio of 4.95. The company has a market cap of $1,370.98, a PE ratio of -13.59 and a beta of 2.17. ImmunoGen has a 12-month low of $3.51 and a 12-month high of $13.41.
ImmunoGen (NASDAQ:IMGN) last announced its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $39.40 million for the quarter, compared to analyst estimates of $39.62 million. The company’s revenue was up 185.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) EPS.
A number of large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in ImmunoGen by 25.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,285 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 6,459 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in ImmunoGen in the 4th quarter valued at $295,000. Endurant Capital Management LP grew its position in ImmunoGen by 168.5% in the 4th quarter. Endurant Capital Management LP now owns 210,800 shares of the biotechnology company’s stock valued at $1,351,000 after buying an additional 132,300 shares during the last quarter. Redmile Group LLC grew its position in ImmunoGen by 35.3% in the 4th quarter. Redmile Group LLC now owns 10,906,962 shares of the biotechnology company’s stock valued at $69,914,000 after buying an additional 2,845,465 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in ImmunoGen by 35.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,147,300 shares of the biotechnology company’s stock valued at $7,354,000 after buying an additional 297,300 shares during the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.
In related news, Director Daniel M. Junius sold 25,000 shares of ImmunoGen stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $11.68, for a total value of $292,000.00. Following the transaction, the director now directly owns 196,700 shares in the company, valued at approximately $2,297,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard J. Gregory sold 34,486 shares of ImmunoGen stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $10.88, for a total transaction of $375,207.68. Following the completion of the transaction, the vice president now owns 239,094 shares in the company, valued at $2,601,342.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 229,930 shares of company stock worth $2,515,150. 6.51% of the stock is currently owned by insiders.
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ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
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