ImmunoGen, Inc. to Post Q2 2017 Earnings of $0.17 Per Share, Jefferies Group Forecasts (NASDAQ:IMGN)
ImmunoGen, Inc. (NASDAQ:IMGN) – Stock analysts at Jefferies Group issued their Q2 2017 earnings per share estimates for shares of ImmunoGen in a report released on Tuesday. Jefferies Group analyst B. Amin anticipates that the biotechnology company will earn $0.17 per share for the quarter. Jefferies Group has a “Buy” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for ImmunoGen’s FY2017 earnings at ($0.92) EPS.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, May 5th. The biotechnology company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.16. The firm had revenue of $28.70 million during the quarter, compared to the consensus estimate of $16.16 million. During the same quarter in the prior year, the business posted ($0.37) EPS. ImmunoGen’s revenue was up 45.7% compared to the same quarter last year.
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Several other equities analysts also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of ImmunoGen in a research report on Monday, June 26th. Leerink Swann raised ImmunoGen from a “market perform” rating to an “outperform” rating and upped their target price for the company from $3.53 to $3.90 in a research report on Wednesday, April 19th. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada raised 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. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $5.00 target price on shares of ImmunoGen in a research report on Monday, May 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.76.
Shares of ImmunoGen (IMGN) opened at 5.90 on Friday. The firm has a 50 day moving average price of $5.94 and a 200-day moving average price of $4.05. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $8.04. The company’s market cap is $527.15 million.
Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in shares of ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 743 shares during the period. Acadian Asset Management LLC bought a new stake in shares of ImmunoGen during the first quarter valued at about $117,000. Aperio Group LLC boosted its stake in shares of ImmunoGen by 45.1% in the second quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 5,221 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 2,753 shares during the period. Finally, Stephens Inc. AR bought a new stake in shares of ImmunoGen during the first quarter valued at about $152,000. Institutional investors and hedge funds 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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