Wall Street analysts expect ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings of ($0.28) per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for ImmunoGen’s earnings, with estimates ranging from ($0.38) to ($0.13). ImmunoGen posted earnings of ($0.30) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The company is scheduled to announce its next earnings report on Friday, May 3rd.
According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.20) per share for the current fiscal year, with EPS estimates ranging from ($1.64) to ($0.56). For the next financial year, analysts forecast that the company will post earnings of ($0.98) per share, with EPS estimates ranging from ($1.73) to ($0.67). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Friday, May 3rd. The biotechnology company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative return on equity of 599.63% and a negative net margin of 311.94%. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $10.59 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. The company’s quarterly revenue was down 56.6% compared to the same quarter last year.
Shares of NASDAQ IMGN traded up $0.38 during trading on Friday, hitting $2.88. 5,890,702 shares of the company were exchanged, compared to its average volume of 2,065,921. The firm has a market cap of $430.65 million, a PE ratio of -2.44 and a beta of 2.12. ImmunoGen has a 12-month low of $2.27 and a 12-month high of $12.31. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.19.
In related news, VP Thomas Ryll sold 11,495 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $64,372.00. Following the sale, the vice president now directly owns 87,184 shares in the company, valued at approximately $488,230.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark J. Enyedy sold 51,070 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total transaction of $285,992.00. Following the completion of the sale, the chief executive officer now owns 483,768 shares in the company, valued at $2,709,100.80. The disclosure for this sale can be found here. 4.44% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. Wedbush Securities Inc. acquired a new position in ImmunoGen in the 1st quarter valued at about $53,000. Private Advisor Group LLC acquired a new position in ImmunoGen in the 4th quarter valued at about $56,000. Fox Run Management L.L.C. acquired a new position in ImmunoGen in the 4th quarter valued at about $73,000. Virtu Financial LLC acquired a new position in ImmunoGen in the 1st quarter valued at about $73,000. Finally, AlphaCrest Capital Management LLC acquired a new position in ImmunoGen in the 4th quarter valued at about $78,000. 82.87% of the stock is owned by institutional investors.
ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm.
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