ImmunoGen, Inc. (IMGN) Posts Quarterly Earnings Results, Misses Expectations By $0.42 EPS
ImmunoGen, Inc. (NASDAQ:IMGN) issued its earnings results on Friday. The biotechnology company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.42), Bloomberg Earnings reports. The firm had revenue of $8.50 million during the quarter, compared to the consensus estimate of $26.09 million. ImmunoGen’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) EPS.
ImmunoGen (NASDAQ IMGN) traded up $0.46 during trading hours on Friday, hitting $5.53. 4,560,178 shares of the company were exchanged, compared to its average volume of 4,062,375.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/03/immunogen-inc-imgn-posts-quarterly-earnings-results-misses-expectations-by-0-42-eps.html.
In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the sale, the vice president now owns 51,100 shares of the company’s stock, valued at approximately $355,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.51% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Tuesday. Leerink Swann reiterated a “buy” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Cantor Fitzgerald reiterated a “hold” rating and set a $5.00 price target on shares of ImmunoGen in a research note on Monday, September 25th. Finally, Canaccord Genuity set a $8.00 price target on ImmunoGen and gave the company a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.83.
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.
Receive News & Ratings for ImmunoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.