ImmunoGen, Inc. (NASDAQ:IMGN) - Stock analysts at Jefferies Group issued their Q2 2017 earnings estimates for ImmunoGen in a report issued on Tuesday. Jefferies Group analyst B. Amin anticipates that the biotechnology company will post earnings per share of $0.17 for the quarter. Jefferies Group currently has a “Buy” rating and a $6.00 target price on the stock. Jefferies Group also issued estimates for ImmunoGen’s FY2017 earnings at ($0.92) EPS.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings results on Friday, May 5th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.16. The firm had revenue of $28.70 million for the quarter, compared to analyst estimates of $16.16 million. During the same quarter last year, the business 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 other research analysts have also recently weighed in on the stock. William Blair restated an “outperform” rating on shares of ImmunoGen in a research report on Monday, June 26th. Leerink Swann upgraded shares of ImmunoGen from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $3.53 to $3.90 in a research report on Wednesday, April 19th. Royal Bank Of Canada upgraded shares of ImmunoGen from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $5.00 to $12.00 in a research report on Thursday, July 6th. ValuEngine upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a research report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $6.76.
ImmunoGen (IMGN) opened at 5.66 on Friday. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $8.04. The stock’s 50 day moving average price is $5.94 and its 200 day moving average price is $4.05. The firm’s market capitalization is $505.71 million.
Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. acquired a new stake in shares of ImmunoGen during the first quarter valued at approximately $1,528,000. UBS Asset Management Americas Inc. boosted its stake in shares of ImmunoGen by 148.6% in the first quarter. UBS Asset Management Americas Inc. now owns 68,097 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 40,700 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ImmunoGen by 15.4% in the first quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company’s stock valued at $1,698,000 after buying an additional 58,516 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in ImmunoGen by 36.2% in the first quarter. Moloney Securities Asset Management LLC now owns 274,450 shares of the biotechnology company’s stock worth $1,062,000 after buying an additional 72,900 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in ImmunoGen by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 58,815 shares of the biotechnology company’s stock worth $228,000 after buying an additional 5,893 shares in the last quarter. Institutional investors own 73.93% of the company’s stock.
ImmunoGen Company Profile
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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