Q2 2017 EPS Estimates for ImmunoGen, Inc. (IMGN) Increased by Analyst
ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at William Blair increased their Q2 2017 earnings estimates for ImmunoGen in a research note issued on Tuesday. William Blair analyst A. Hsieh now forecasts that the biotechnology company will earn ($0.04) per share for the quarter, up from their previous forecast of ($0.39). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.40) EPS, FY2017 earnings at ($1.04) EPS, FY2018 earnings at ($1.45) EPS and FY2019 earnings at ($1.59) EPS.
Several other analysts have also recently weighed in on IMGN. Jefferies Group LLC restated a “buy” rating and set a $6.00 price target on shares of ImmunoGen in a report on Wednesday, April 12th. Leerink Swann upgraded ImmunoGen from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $3.53 to $3.90 in a report on Wednesday, April 19th. Royal Bank Of Canada set a $5.00 price target on ImmunoGen and gave the stock a “hold” rating in a report on Saturday, May 6th. Cowen and Company restated a “hold” rating on shares of ImmunoGen in a report on Saturday, May 6th. Finally, Canaccord Genuity set a $6.00 price target on ImmunoGen and gave the stock a “buy” rating in a report on Saturday, May 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.76.
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ImmunoGen (NASDAQ IMGN) opened at 5.96 on Thursday. The company’s market cap is $532.51 million. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.04. The stock has a 50 day moving average of $5.90 and a 200 day moving average of $4.03.
ImmunoGen (NASDAQ:IMGN) last issued its 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 business had revenue of $28.70 million during the quarter, compared to the consensus estimate of $16.16 million. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same period last year, the business posted ($0.37) EPS.
A number of hedge funds have recently made changes to their positions in IMGN. State Street Corp boosted its stake in shares of ImmunoGen by 3.1% in the fourth quarter. State Street Corp now owns 1,526,398 shares of the biotechnology company’s stock valued at $3,115,000 after buying an additional 45,628 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of ImmunoGen by 69.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,104 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 44,353 shares during the last quarter. Norges Bank bought a new stake in shares of ImmunoGen during the fourth quarter valued at approximately $3,123,000. Teachers Advisors LLC boosted its stake in shares of ImmunoGen by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company’s stock valued at $428,000 after buying an additional 20,171 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of ImmunoGen by 116.4% in the first quarter. Creative Planning now owns 53,444 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 28,744 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.
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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