ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at Cantor Fitzgerald upped their FY2018 earnings per share (EPS) estimates for shares of ImmunoGen in a report released on Monday. Cantor Fitzgerald analyst M. Goldstein now expects that the biotechnology company will post earnings of ($1.03) per share for the year, up from their previous estimate of ($1.08). Cantor Fitzgerald has a “Hold” rating and a $5.00 price objective on the stock.
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.
Shares of ImmunoGen (NASDAQ IMGN) traded down $0.74 during trading hours on Wednesday, hitting $9.80. 5,240,200 shares of the company’s stock traded hands, compared to its average volume of 3,302,446. ImmunoGen has a 12 month low of $2.40 and a 12 month high of $10.66. The firm has a market capitalization of $1,394.58, a price-to-earnings ratio of -9.61 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.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in shares of ImmunoGen by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,898 shares of the biotechnology company’s stock valued at $2,360,000 after acquiring an additional 1,919 shares during the period. Royal Bank of Canada grew its position in ImmunoGen by 789.0% in the second quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock worth $1,098,000 after buying an additional 137,061 shares during the last quarter. Chicago Equity Partners LLC grew its position in ImmunoGen by 124.7% in the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock worth $3,753,000 after buying an additional 272,315 shares during the last quarter. Bank of Nova Scotia acquired a new position in ImmunoGen in the second quarter worth approximately $591,000. Finally, OxFORD Asset Management LLP acquired a new position in ImmunoGen in the second quarter worth approximately $506,000. Institutional investors and hedge funds own 67.97% of the company’s stock.
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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