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.
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.
ILLEGAL ACTIVITY NOTICE: “ImmunoGen, Inc. Forecasted to Earn Q1 2018 Earnings of ($0.27) Per Share (IMGN)” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/13/immunogen-inc-forecasted-to-earn-q1-2018-earnings-of-0-27-per-share-imgn.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.