Wall Street brokerages expect ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings of ($0.40) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ImmunoGen’s earnings, with the lowest EPS estimate coming in at ($0.44) and the highest estimate coming in at ($0.38). ImmunoGen posted earnings of ($0.51) per share in the same quarter last year, which indicates a positive year over year growth rate of 21.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.45) per share for the current financial year, with EPS estimates ranging from ($1.53) to ($1.40). For the next financial year, analysts forecast that the firm will report earnings of ($1.42) per share, with EPS estimates ranging from ($1.59) to ($0.89). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, May 5th. The biotechnology company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.16. The firm had revenue of $28.70 million for the quarter, compared to analysts’ expectations of $16.16 million. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of ImmunoGen in a report on Wednesday, June 28th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the stock a “hold” rating in a report on Monday, June 26th. Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Tuesday, June 27th. William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a report on Monday, June 26th. Finally, ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $5.88.
Shares of ImmunoGen (NASDAQ:IMGN) traded down 4.22% during mid-day trading on Friday, hitting $6.81. The company had a trading volume of 1,362,614 shares. The firm has a 50-day moving average price of $5.12 and a 200 day moving average price of $3.52. The firm’s market capitalization is $608.46 million. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $7.40.
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Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in ImmunoGen by 3.1% in the fourth quarter. State Street Corp now owns 1,526,398 shares of the biotechnology company’s stock worth $3,115,000 after buying an additional 45,628 shares during the period. Federated Investors Inc. PA boosted its position in ImmunoGen by 69.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,104 shares of the biotechnology company’s stock worth $221,000 after buying an additional 44,353 shares during the period. Norges Bank bought a new position in ImmunoGen during the fourth quarter worth $3,123,000. Teachers Advisors LLC boosted its position in ImmunoGen by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock worth $428,000 after buying an additional 20,171 shares during the period. Finally, Creative Planning boosted its position in ImmunoGen by 116.4% in the first quarter. Creative Planning now owns 53,444 shares of the biotechnology company’s stock worth $207,000 after buying an additional 28,744 shares during the period. 73.93% of the stock is owned by institutional investors.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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