Zacks: Analysts Anticipate ImmunoGen, Inc. (IMGN) to Post -$0.28 EPS

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.

IMGN has been the topic of several research analyst reports. Morgan Stanley upgraded shares of ImmunoGen from an “underweight” rating to an “equal weight” rating and set a $2.68 price objective on the stock in a report on Tuesday, March 5th. JPMorgan Chase & Co. lowered shares of ImmunoGen from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 19th. BidaskClub upgraded shares of ImmunoGen from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. ValuEngine lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Finally, Cowen restated a “hold” rating on shares of ImmunoGen in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. ImmunoGen has an average rating of “Hold” and an average target price of $2.89.

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.

About ImmunoGen

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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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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