Analysts Anticipate ImmunoGen, Inc. (IMGN) Will Announce Quarterly Sales of $14.88 Million

Equities research analysts expect that ImmunoGen, Inc. (NASDAQ:IMGN) will report $14.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ImmunoGen’s earnings, with estimates ranging from $11.75 million to $18.00 million. ImmunoGen posted sales of $28.69 million in the same quarter last year, which would indicate a negative year over year growth rate of 48.1%. The business is scheduled to report its next earnings results on Friday, February 9th.

On average, analysts expect that ImmunoGen will report full year sales of $14.88 million for the current year, with estimates ranging from $51.50 million to $94.74 million. For the next financial year, analysts expect that the business will post sales of $84.22 million per share, with estimates ranging from $53.95 million to $137.30 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for ImmunoGen.

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

IMGN has been the subject of a number of research reports. HC Wainwright set a $18.00 price target on shares of ImmunoGen and gave the company a “buy” rating in a report on Monday. Zacks Investment Research raised shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, October 31st. BidaskClub raised shares of ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Cantor Fitzgerald reissued a “hold” rating and issued a $5.00 price target on shares of ImmunoGen in a report on Friday, November 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price target on shares of ImmunoGen in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $9.10.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in ImmunoGen by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock worth $2,360,000 after acquiring an additional 1,919 shares during the period. Voya Investment Management LLC grew its holdings in ImmunoGen by 10.0% during the 2nd quarter. Voya Investment Management LLC now owns 45,066 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 4,105 shares during the period. TIAA CREF Investment Management LLC grew its holdings in ImmunoGen by 3.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 252,260 shares of the biotechnology company’s stock worth $1,794,000 after acquiring an additional 7,658 shares during the period. Stifel Financial Corp grew its holdings in ImmunoGen by 7.4% during the 2nd quarter. Stifel Financial Corp now owns 111,478 shares of the biotechnology company’s stock worth $791,000 after acquiring an additional 7,663 shares during the period. Finally, SG Americas Securities LLC grew its holdings in ImmunoGen by 75.7% during the 4th quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after acquiring an additional 7,937 shares during the period. 67.97% of the stock is owned by hedge funds and other institutional investors.

Shares of ImmunoGen (IMGN) opened at $10.54 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of -0.03. The firm has a market cap of $1,630.00, a P/E ratio of -8.12 and a beta of 2.50. ImmunoGen has a fifty-two week low of $2.31 and a fifty-two week high of $10.66.

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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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