-$0.30 Earnings Per Share Expected for ImmunoGen, Inc. (IMGN) This Quarter
Equities analysts expect ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings of ($0.30) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ImmunoGen’s earnings. The lowest EPS estimate is ($0.48) and the highest is ($0.13). ImmunoGen posted earnings per share of ($0.46) during the same quarter last year, which would suggest a positive year over year growth rate of 34.8%. The company is expected to issue its next earnings results on Friday, October 27th.
On average, analysts expect that ImmunoGen will report full-year earnings of ($0.85) per share for the current year, with EPS estimates ranging from ($0.94) to ($0.78). For the next year, analysts expect that the business will post earnings of ($1.44) per share, with EPS estimates ranging from ($1.64) to ($0.98). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to analyst estimates of $30.59 million. During the same period last year, the business posted ($0.53) EPS. ImmunoGen’s revenue was up 426.6% compared to the same quarter last year.
IMGN has been the subject of several research reports. Leerink Swann reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Tuesday. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Cowen and Company reaffirmed a “hold” rating on shares of ImmunoGen in a report on Saturday, May 6th. Canaccord Genuity set a $8.00 target price on ImmunoGen and gave the company a “buy” rating in a report on Monday, July 31st. Finally, 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 report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.01.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV raised its position in shares of ImmunoGen by 6.4% in the first quarter. KBC Group NV now owns 299,613 shares of the biotechnology company’s stock worth $1,160,000 after buying an additional 17,893 shares in the last quarter. JPMorgan Chase & Co. raised its stake in ImmunoGen by 37,346.0% in the first quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock worth $725,000 after buying an additional 186,730 shares during the period. Envestnet Asset Management Inc. raised its stake in ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock worth $107,000 after buying an additional 743 shares during the period. Parametric Portfolio Associates LLC raised its stake in ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock worth $149,000 after buying an additional 2,753 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in ImmunoGen during the first quarter worth about $1,528,000. 84.64% of the stock is currently owned by institutional investors and hedge funds.
ImmunoGen (NASDAQ IMGN) traded down 1.30% during midday trading on Thursday, reaching $8.36. The company’s stock had a trading volume of 6,817,307 shares. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.84. The company’s market capitalization is $749.03 million. The company’s 50-day moving average price is $6.29 and its 200-day moving average price is $4.84.
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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