Brokerages Anticipate ImmunoGen, Inc. (IMGN) Will Announce Earnings of -$0.27 Per Share

Equities research analysts predict that ImmunoGen, Inc. (NASDAQ:IMGN) will report earnings per share (EPS) of ($0.27) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for ImmunoGen’s earnings, with the lowest EPS estimate coming in at ($0.29) and the highest estimate coming in at ($0.25). ImmunoGen posted earnings per share of ($0.20) during the same quarter last year, which suggests a negative year-over-year growth rate of 35%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.05) per share for the current fiscal year, with EPS estimates ranging from ($1.22) to ($0.77). For the next year, analysts expect that the business will report earnings of ($0.84) per share, with EPS estimates ranging from ($1.22) to ($0.25). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to analyst estimates of $39.62 million. During the same period in the previous year, the business posted ($0.39) earnings per share. The company’s revenue for the quarter was up 185.5% compared to the same quarter last year.

A number of equities research analysts have commented on IMGN shares. Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, October 31st. HC Wainwright started coverage on shares of ImmunoGen in a research report on Wednesday, January 31st. They issued a “buy” rating for the company. BidaskClub raised shares of ImmunoGen from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Cantor Fitzgerald reissued a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a research report on Friday, November 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of ImmunoGen in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. ImmunoGen currently has an average rating of “Buy” and a consensus price target of $9.10.

In other news, Director Daniel M. Junius sold 46,667 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $10.01, for a total transaction of $467,136.67. Following the completion of the sale, the director now owns 243,367 shares of the company’s stock, valued at approximately $2,436,103.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.51% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMGN. Schwab Charles Investment Management Inc. lifted its stake in shares of ImmunoGen by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after buying an additional 1,919 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of ImmunoGen by 3.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 252,260 shares of the biotechnology company’s stock valued at $1,794,000 after buying an additional 7,658 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of ImmunoGen by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,248,688 shares of the biotechnology company’s stock valued at $30,209,000 after buying an additional 138,257 shares in the last quarter. FMR LLC lifted its stake in shares of ImmunoGen by 598.9% during the 2nd quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after buying an additional 4,803,256 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of ImmunoGen by 130.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,553 shares of the biotechnology company’s stock valued at $630,000 after buying an additional 50,061 shares in the last quarter. Institutional investors own 67.97% of the company’s stock.

ImmunoGen (NASDAQ IMGN) traded up $0.62 during trading hours on Friday, reaching $11.27. 4,188,809 shares of the company’s stock were exchanged, compared to its average volume of 3,381,373. The company has a debt-to-equity ratio of -0.03, a quick ratio of 2.78 and a current ratio of 2.81. ImmunoGen has a fifty-two week low of $2.41 and a fifty-two week high of $11.61. The company has a market cap of $1,480.00, a P/E ratio of -10.96 and a beta of 2.50.

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ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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