Analysts Expect ImmunoGen, Inc. (IMGN) to Post -$0.33 Earnings Per Share

Wall Street analysts forecast that ImmunoGen, Inc. (NASDAQ:IMGN) will report earnings per share of ($0.33) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for ImmunoGen’s earnings, with the highest EPS estimate coming in at ($0.30) and the lowest estimate coming in at ($0.36). ImmunoGen posted earnings per share of ($0.10) in the same quarter last year, which would indicate a negative year over year growth rate of 230%. The firm is expected to report its next earnings results on Friday, February 8th.

On average, analysts expect that ImmunoGen will report full year earnings of ($1.24) per share for the current fiscal year, with EPS estimates ranging from ($1.28) to ($1.21). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.21) per share, with EPS estimates ranging from ($1.46) to ($0.63). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, November 2nd. The biotechnology company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.01. The firm had revenue of $10.90 million for the quarter, compared to the consensus estimate of $13.60 million. ImmunoGen had a negative net margin of 176.35% and a negative return on equity of 673.66%. The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.61) earnings per share.

Several equities research analysts have recently issued reports on IMGN shares. Guggenheim started coverage on ImmunoGen in a research report on Monday, September 17th. They issued a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of ImmunoGen in a research report on Monday, July 30th. ValuEngine raised ImmunoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised ImmunoGen from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Finally, BidaskClub raised ImmunoGen from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. ImmunoGen presently has an average rating of “Buy” and an average target price of $14.75.

In other news, VP Anna Berkenblit sold 5,851 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $8.00, for a total value of $46,808.00. Following the sale, the vice president now directly owns 132,769 shares of the company’s stock, valued at $1,062,152. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Alan Goldberg purchased 30,000 shares of the stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $172,800.00. Following the completion of the transaction, the director now owns 53,800 shares of the company’s stock, valued at approximately $309,888. The disclosure for this purchase can be found here. Company insiders own 4.44% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in ImmunoGen during the second quarter worth about $115,000. Signition LP acquired a new stake in ImmunoGen during the third quarter worth about $115,000. MML Investors Services LLC acquired a new stake in ImmunoGen during the third quarter worth about $130,000. Private Advisor Group LLC acquired a new stake in ImmunoGen during the second quarter worth about $131,000. Finally, Great West Life Assurance Co. Can grew its position in ImmunoGen by 75.1% during the second quarter. Great West Life Assurance Co. Can now owns 15,767 shares of the biotechnology company’s stock worth $153,000 after buying an additional 6,763 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

ImmunoGen stock traded down $0.29 during mid-day trading on Friday, hitting $5.93. 1,671,415 shares of the company’s stock were exchanged, compared to its average volume of 2,670,210. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.59 and a quick ratio of 5.73. The company has a market capitalization of $821.49 million, a price-to-earnings ratio of -7.91 and a beta of 2.49. ImmunoGen has a 1-year low of $5.24 and a 1-year high of $13.41.

About ImmunoGen

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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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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