Equities analysts predict that ImmunoGen, Inc. (NASDAQ:IMGN) will post earnings of ($0.32) per share for the current quarter, Zacks reports. Six analysts have issued estimates for ImmunoGen’s earnings, with the lowest EPS estimate coming in at ($0.40) and the highest estimate coming in at ($0.24). ImmunoGen reported earnings of ($0.30) per share during the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The firm is scheduled to issue its next earnings report on Friday, July 26th.
According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($0.96) per share for the current year, with EPS estimates ranging from ($1.14) to ($0.82). For the next year, analysts anticipate that the company will post earnings of ($0.57) per share, with EPS estimates ranging from ($1.01) to ($0.33). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, May 3rd. The biotechnology company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative net margin of 406.27% and a negative return on equity of 573.13%. The company had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $10.59 million. During the same quarter last year, the business earned ($0.30) EPS. The business’s revenue was down 56.6% on a year-over-year basis.
Several analysts have recently commented on the stock. Cowen restated a “buy” rating on shares of ImmunoGen in a research note on Thursday, June 27th. Guggenheim cut shares of ImmunoGen from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. HC Wainwright cut shares of Hydrogenics from a “buy” rating to a “neutral” rating in a research note on Friday, June 28th. Finally, BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.03.
Shares of IMGN stock traded up $0.03 during mid-day trading on Friday, hitting $2.30. The stock had a trading volume of 75,067 shares, compared to its average volume of 3,569,452. ImmunoGen has a fifty-two week low of $1.76 and a fifty-two week high of $10.39. The firm has a market cap of $334.95 million, a price-to-earnings ratio of -1.94 and a beta of 2.31. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $2.13.
Several institutional investors and hedge funds have recently made changes to their positions in IMGN. Redmile Group LLC increased its holdings in shares of ImmunoGen by 20.0% in the 1st quarter. Redmile Group LLC now owns 13,063,767 shares of the biotechnology company’s stock valued at $35,403,000 after purchasing an additional 2,179,160 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of ImmunoGen by 2,747.6% in the 4th quarter. Two Sigma Investments LP now owns 1,106,879 shares of the biotechnology company’s stock valued at $5,313,000 after purchasing an additional 1,068,008 shares in the last quarter. Opaleye Management Inc. purchased a new position in shares of ImmunoGen in the 4th quarter valued at about $4,900,000. BlackRock Inc. increased its holdings in shares of ImmunoGen by 7.8% in the 4th quarter. BlackRock Inc. now owns 12,378,204 shares of the biotechnology company’s stock valued at $59,416,000 after purchasing an additional 896,227 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of ImmunoGen by 154.6% in the 4th quarter. Deutsche Bank AG now owns 1,242,243 shares of the biotechnology company’s stock valued at $5,962,000 after purchasing an additional 754,366 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.
ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.
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