Equities research analysts predict that ImmunoGen, Inc. (NASDAQ:IMGN – Get Rating) will report ($0.22) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for ImmunoGen’s earnings. The lowest EPS estimate is ($0.27) and the highest is ($0.11). ImmunoGen reported earnings of ($0.15) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 46.7%. The firm is scheduled to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that ImmunoGen will report full-year earnings of ($0.86) per share for the current fiscal year, with EPS estimates ranging from ($1.03) to ($0.74). For the next financial year, analysts expect that the firm will report earnings of ($0.74) per share, with EPS estimates ranging from ($0.90) to ($0.46). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow ImmunoGen.
ImmunoGen (NASDAQ:IMGN – Get Rating) last posted its quarterly earnings results on Friday, May 6th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. ImmunoGen had a negative return on equity of 66.56% and a negative net margin of 140.30%. The firm had revenue of $38.10 million during the quarter, compared to the consensus estimate of $20.84 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue was up 142.7% compared to the same quarter last year.
A number of research analysts recently weighed in on IMGN shares. StockNews.com raised ImmunoGen from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. SVB Leerink reduced their price objective on ImmunoGen from $7.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, February 22nd. BMO Capital Markets assumed coverage on ImmunoGen in a report on Friday, February 11th. They issued an “outperform” rating and a $18.00 price target for the company. Royal Bank of Canada lowered ImmunoGen from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $9.00 to $6.00 in a report on Monday, March 21st. Finally, TheStreet downgraded ImmunoGen from a “c-” rating to a “d” rating in a research report on Friday, February 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, ImmunoGen currently has a consensus rating of “Hold” and an average price target of $10.25.
Shares of ImmunoGen stock traded up $0.13 during trading on Friday, reaching $3.70. 3,963,603 shares of the company’s stock were exchanged, compared to its average volume of 4,685,194. The company has a market cap of $816.00 million, a P/E ratio of -6.17 and a beta of 1.18. ImmunoGen has a 1-year low of $3.36 and a 1-year high of $7.77. The firm’s 50-day moving average price is $4.54 and its 200 day moving average price is $5.43.
A number of hedge funds and other institutional investors have recently modified their holdings of IMGN. RA Capital Management L.P. grew its holdings in shares of ImmunoGen by 7.4% during the 1st quarter. RA Capital Management L.P. now owns 21,741,458 shares of the biotechnology company’s stock worth $103,489,000 after purchasing an additional 1,500,000 shares during the period. BlackRock Inc. grew its stake in ImmunoGen by 10.6% during the 1st quarter. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock worth $78,225,000 after buying an additional 1,569,629 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ImmunoGen by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 15,478,516 shares of the biotechnology company’s stock valued at $73,678,000 after purchasing an additional 346,764 shares during the last quarter. State Street Corp grew its stake in shares of ImmunoGen by 69.9% in the 1st quarter. State Street Corp now owns 13,707,389 shares of the biotechnology company’s stock valued at $65,247,000 after purchasing an additional 5,638,822 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of ImmunoGen by 32.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,286,193 shares of the biotechnology company’s stock valued at $76,324,000 after purchasing an additional 2,536,193 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
About ImmunoGen (Get Rating)
ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company’s product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.
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