ImmunoGen, Inc. (NASDAQ:IMGN) – Equities research analysts at Leerink Swann cut their FY2018 earnings per share (EPS) estimates for shares of ImmunoGen in a report released on Monday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings of ($1.07) per share for the year, down from their previous forecast of ($0.98). Leerink Swann also issued estimates for ImmunoGen’s Q4 2018 earnings at ($0.27) EPS, FY2019 earnings at ($0.93) EPS and FY2020 earnings at ($0.66) EPS.
Other equities research analysts have also issued research reports about the stock. HC Wainwright assumed coverage on shares of ImmunoGen in a research note on Wednesday, January 31st. They issued a “buy” rating on the stock. BidaskClub upgraded shares of ImmunoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 9th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of ImmunoGen in a research note on Thursday, February 8th. Cantor Fitzgerald restated a “hold” rating and issued a $5.00 price target on shares of ImmunoGen in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. ImmunoGen presently has a consensus rating of “Buy” and a consensus target price of $9.10.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million for the quarter, compared to the consensus estimate of $39.62 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. The company’s revenue for the quarter was up 185.5% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MANA Advisors LLC acquired a new position in shares of ImmunoGen during the fourth quarter valued at approximately $169,000. Renaissance Technologies LLC increased its stake in shares of ImmunoGen by 108.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,093,240 shares of the biotechnology company’s stock valued at $7,008,000 after acquiring an additional 568,900 shares during the period. MML Investors Services LLC increased its stake in shares of ImmunoGen by 64.7% during the fourth quarter. MML Investors Services LLC now owns 47,491 shares of the biotechnology company’s stock valued at $304,000 after acquiring an additional 18,650 shares during the period. AXA increased its stake in shares of ImmunoGen by 123.4% during the fourth quarter. AXA now owns 181,400 shares of the biotechnology company’s stock valued at $1,163,000 after acquiring an additional 100,200 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of ImmunoGen by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 955,193 shares of the biotechnology company’s stock valued at $6,122,000 after acquiring an additional 70,643 shares during the period. Institutional investors and hedge funds own 67.97% of the company’s stock.
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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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