ImmunoGen, Inc. (IMGN) Expected to Announce Earnings of -$0.41 Per Share

Analysts forecast that ImmunoGen, Inc. (NASDAQ:IMGN) will announce earnings of ($0.41) per share for the current quarter, Zacks reports. Four analysts have issued estimates for ImmunoGen’s earnings, with the lowest EPS estimate coming in at ($0.46) and the highest estimate coming in at ($0.38). ImmunoGen reported earnings per share of ($0.46) during the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The business is scheduled to report its next quarterly earnings results on Friday, July 28th.

According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.21) per share for the current fiscal year, with EPS estimates ranging from ($1.50) to ($0.85). For the next fiscal year, analysts forecast that the business will post earnings of ($1.40) per share, with EPS estimates ranging from ($1.59) to ($0.89). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $39.02 million during the quarter, compared to analysts’ expectations of $30.59 million. During the same period last year, the firm earned ($0.53) earnings per share. ImmunoGen’s revenue was up 426.6% on a year-over-year basis.

Several research analysts have weighed in on the stock. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a report on Saturday, May 6th. Royal Bank Of Canada set a $5.00 price objective on shares of ImmunoGen and gave the stock a “hold” rating in a report on Saturday, May 6th. Canaccord Genuity set a $6.00 price objective on shares of ImmunoGen and gave the stock a “buy” rating in a report on Saturday, May 6th. Cantor Fitzgerald set a $5.00 price objective on shares of ImmunoGen and gave the stock a “hold” rating in a report on Friday. Finally, BidaskClub lowered shares of ImmunoGen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.76.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in ImmunoGen by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,761 shares of the biotechnology company’s stock worth $107,000 after buying an additional 743 shares during the last quarter. Fisher Asset Management LLC increased its position in ImmunoGen by 1.0% in the second quarter. Fisher Asset Management LLC now owns 256,206 shares of the biotechnology company’s stock worth $1,822,000 after buying an additional 2,530 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in ImmunoGen by 7.7% in the first quarter. Parametric Portfolio Associates LLC now owns 38,492 shares of the biotechnology company’s stock worth $149,000 after buying an additional 2,753 shares during the last quarter. American International Group Inc. increased its position in ImmunoGen by 7.1% in the first quarter. American International Group Inc. now owns 51,863 shares of the biotechnology company’s stock worth $201,000 after buying an additional 3,418 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in ImmunoGen by 8.2% in the first quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock worth $186,000 after buying an additional 3,616 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Shares of ImmunoGen (IMGN) traded down 14.66% during midday trading on Wednesday, reaching $5.94. 5,085,155 shares of the company were exchanged. The company’s market capitalization is $517.81 million. The stock’s 50-day moving average price is $6.23 and its 200-day moving average price is $4.25. ImmunoGen has a 52-week low of $1.51 and a 52-week high of $8.04.

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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. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. 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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