ImmunoGen, Inc. Forecasted to Earn Q1 2018 Earnings of ($0.27) Per Share (IMGN)

ImmunoGen, Inc. (NASDAQ:IMGN) – Stock analysts at Leerink Swann issued their Q1 2018 earnings per share (EPS) estimates for ImmunoGen in a research report issued on Monday. Leerink Swann analyst M. Schmidt anticipates that the biotechnology company will post earnings per share of ($0.27) for the quarter. Leerink Swann also issued estimates for ImmunoGen’s Q2 2018 earnings at ($0.27) EPS and Q3 2018 earnings at ($0.27) EPS.

Other equities research analysts have also issued research reports about the stock. HC Wainwright set a $18.00 target price on shares of ImmunoGen and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a report on Tuesday, October 31st. BidaskClub upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Cantor Fitzgerald restated a “hold” rating and issued a $5.00 target price on shares of ImmunoGen in a report on Friday, November 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price 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 assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.10.

Shares of ImmunoGen (IMGN) opened at $10.54 on Tuesday. The stock has a market cap of $1,630.00, a PE ratio of -8.11 and a beta of 2.50. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of -0.03. ImmunoGen has a twelve month low of $2.31 and a twelve month high of $10.66.

ImmunoGen (NASDAQ:IMGN) last released its earnings results on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $39.40 million for the quarter, compared to analysts’ expectations of $39.62 million. The company’s revenue was up 185.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.39) EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sphera Funds Management LTD. bought a new stake in ImmunoGen during the 4th quarter valued at about $3,205,000. Dynamic Advisors Solutions LLC bought a new stake in ImmunoGen during the 4th quarter valued at about $150,000. American International Group Inc. lifted its holdings in ImmunoGen by 19.2% during the 4th quarter. American International Group Inc. now owns 67,280 shares of the biotechnology company’s stock valued at $431,000 after buying an additional 10,849 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in ImmunoGen during the 4th quarter valued at about $346,000. Finally, BlackRock Inc. lifted its holdings in ImmunoGen by 54.7% during the 4th quarter. BlackRock Inc. now owns 8,470,097 shares of the biotechnology company’s stock valued at $54,294,000 after buying an additional 2,996,116 shares in the last quarter. Institutional investors own 67.97% of the company’s stock.

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About ImmunoGen

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.

Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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