-$0.07 EPS Expected for ImmunoGen, Inc. (IMGN) This Quarter

Wall Street analysts expect ImmunoGen, Inc. (NASDAQ:IMGN) to post earnings of ($0.07) per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for ImmunoGen’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.09). ImmunoGen reported earnings of ($0.39) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 82.1%. The business is expected to issue its next quarterly earnings results on Friday, February 16th.

On average, analysts expect that ImmunoGen will report full-year earnings of ($0.97) per share for the current year, with EPS estimates ranging from ($1.01) to ($0.93). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.99) per share, with EPS estimates ranging from ($1.19) to ($0.77). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.42). The company had revenue of $8.50 million during the quarter, compared to analysts’ expectations of $26.09 million. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned ($0.51) earnings per share.

A number of brokerages recently issued reports on IMGN. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $5.00 price target on shares of ImmunoGen in a report on Friday, November 3rd. Zacks Investment Research raised ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, October 31st. Jefferies Group reaffirmed a “buy” rating and issued a $9.00 price target on shares of ImmunoGen in a report on Thursday, October 12th. Finally, ValuEngine downgraded ImmunoGen from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.83.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its stake in ImmunoGen by 0.6% in 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 buying an additional 1,919 shares during the last quarter. Royal Bank of Canada lifted its stake in ImmunoGen by 789.0% in the second quarter. Royal Bank of Canada now owns 154,432 shares of the biotechnology company’s stock valued at $1,098,000 after buying an additional 137,061 shares during the last quarter. Chicago Equity Partners LLC lifted its stake in ImmunoGen by 124.7% in the third quarter. Chicago Equity Partners LLC now owns 490,635 shares of the biotechnology company’s stock valued at $3,753,000 after buying an additional 272,315 shares during the last quarter. OxFORD Asset Management LLP purchased a new stake in ImmunoGen in the second quarter valued at approximately $506,000. Finally, Bank of Nova Scotia purchased a new stake in ImmunoGen in the second quarter valued at approximately $591,000. Institutional investors own 68.02% of the company’s stock.

ImmunoGen (IMGN) opened at $6.74 on Monday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of -0.03. The stock has a market capitalization of $1,040.00, a P/E ratio of -5.18 and a beta of 2.20. ImmunoGen has a fifty-two week low of $2.20 and a fifty-two week high of $8.84.

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About ImmunoGen

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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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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