Equities research analysts expect that ImmunoGen, Inc. (NASDAQ:IMGN) will report ($0.29) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for ImmunoGen’s earnings, with estimates ranging from ($0.31) to ($0.27). ImmunoGen reported earnings per share of ($0.10) during the same quarter last year, which suggests a negative year over year growth rate of 190%. The firm is scheduled to issue its next quarterly earnings results on Friday, July 27th.
According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.14) per share for the current year, with EPS estimates ranging from ($1.23) to ($1.07). For the next year, analysts anticipate that the firm will report earnings of ($0.96) per share, with EPS estimates ranging from ($1.31) to ($0.33). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, May 4th. The biotechnology company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.03). The business had revenue of $19.80 million for the quarter, compared to analysts’ expectations of $15.04 million. During the same quarter in the prior year, the company posted ($0.20) EPS. ImmunoGen’s revenue was down 30.5% on a year-over-year basis.
Several equities analysts have commented on IMGN shares. Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the company a “hold” rating in a report on Sunday, April 8th. HC Wainwright set a $18.00 price objective on shares of ImmunoGen and gave the company a “buy” rating in a report on Wednesday, April 25th. Zacks Investment Research upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Monday, March 19th. ValuEngine upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Canaccord Genuity restated a “buy” rating and issued a $20.00 price target on shares of ImmunoGen in a research note on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. ImmunoGen has a consensus rating of “Buy” and an average target price of $12.42.
In related news, CFO David Brannon Johnston sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $11.02, for a total value of $110,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.44% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its position in ImmunoGen by 18.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 522,964 shares of the biotechnology company’s stock worth $3,353,000 after purchasing an additional 81,519 shares during the period. SG Americas Securities LLC lifted its position in ImmunoGen by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 7,937 shares during the period. Teacher Retirement System of Texas bought a new stake in ImmunoGen during the fourth quarter worth about $215,000. California Public Employees Retirement System lifted its position in ImmunoGen by 76.8% during the fourth quarter. California Public Employees Retirement System now owns 197,132 shares of the biotechnology company’s stock worth $1,264,000 after purchasing an additional 85,632 shares during the period. Finally, Swiss National Bank lifted its position in ImmunoGen by 16.6% during the fourth quarter. Swiss National Bank now owns 161,200 shares of the biotechnology company’s stock worth $1,033,000 after purchasing an additional 23,000 shares during the period. Institutional investors and hedge funds own 78.39% of the company’s stock.
ImmunoGen opened at $9.73 on Wednesday, MarketBeat.com reports. ImmunoGen has a one year low of $4.80 and a one year high of $13.41. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -12.97 and a beta of 2.14. The company has a debt-to-equity ratio of -0.06, a quick ratio of 3.73 and a current ratio of 3.74.
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.
Get a free copy of the Zacks research report on ImmunoGen (IMGN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.