ImmunoGen, Inc. (NASDAQ:IMGN) – Stock analysts at Cantor Fitzgerald issued their FY2017 EPS estimates for shares of ImmunoGen in a note issued to investors on Tuesday. Cantor Fitzgerald analyst M. Goldstein anticipates that the firm will post earnings per share of ($1.65) for the year. Cantor Fitzgerald currently has a “Hold” rating and a $5.00 target price on the stock. Cantor Fitzgerald also issued estimates for ImmunoGen’s FY2018 earnings at ($1.76) EPS.

ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, October 28th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $0.13. The company earned $7.66 million during the quarter, compared to analyst estimates of $21.12 million. During the same quarter in the prior year, the company earned ($0.39) EPS. The business’s revenue for the quarter was down 48.3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This article was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another domain, it was illegally copied and reposted in violation of international copyright & trademark law. The original version of this article can be accessed at http://www.watchlistnews.com/analysts-offer-predictions-for-immunogen-inc-s-fy2017-earnings-imgn/1061590.html.

Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

A number of other research firms have also recently commented on IMGN. Zacks Investment Research cut ImmunoGen from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. RBC Capital Markets reaffirmed a “hold” rating and set a $2.00 price objective on shares of ImmunoGen in a research report on Tuesday, January 3rd. Finally, Canaccord Genuity set a $6.00 price objective on ImmunoGen and gave the company a “buy” rating in a research report on Friday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.17.

Shares of ImmunoGen (NASDAQ:IMGN) traded down 1.22% during midday trading on Friday, hitting $2.43. The stock had a trading volume of 980,826 shares. The stock’s 50 day moving average price is $1.88 and its 200 day moving average price is $2.50. The firm’s market cap is $212.14 million. ImmunoGen has a 12 month low of $1.51 and a 12 month high of $10.43.

Several hedge funds and other institutional investors have recently bought and sold shares of IMGN. Wells Fargo & Company MN increased its position in ImmunoGen by 2.0% in the third quarter. Wells Fargo & Company MN now owns 1,481,117 shares of the biotechnology company’s stock valued at $3,969,000 after buying an additional 29,673 shares during the period. Lumbard & Kellner LLC increased its position in ImmunoGen by 108.9% in the second quarter. Lumbard & Kellner LLC now owns 351,565 shares of the biotechnology company’s stock valued at $1,083,000 after buying an additional 183,250 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in ImmunoGen during the second quarter valued at approximately $417,000. Schwab Charles Investment Management Inc. increased its position in ImmunoGen by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 300,956 shares of the biotechnology company’s stock valued at $927,000 after buying an additional 5,874 shares during the period. Finally, Swiss National Bank increased its position in ImmunoGen by 2.1% in the second quarter. Swiss National Bank now owns 159,400 shares of the biotechnology company’s stock valued at $491,000 after buying an additional 3,300 shares during the period. 84.66% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This article was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another domain, it was illegally copied and reposted in violation of international copyright & trademark law. The original version of this article can be accessed at http://www.watchlistnews.com/analysts-offer-predictions-for-immunogen-inc-s-fy2017-earnings-imgn/1061590.html.

In related news, VP Richard J. Gregory acquired 16,600 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average price of $1.78 per share, with a total value of $29,548.00. Following the completion of the purchase, the vice president now directly owns 39,231 shares of the company’s stock, valued at $69,831.18. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark J. Enyedy acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was bought at an average cost of $1.83 per share, for a total transaction of $45,750.00. Following the purchase, the chief executive officer now directly owns 100,100 shares of the company’s stock, valued at $183,183. The disclosure for this purchase can be found here. 5.00% of the stock is owned by company insiders.

About ImmunoGen

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.

5 Day Chart for NASDAQ:IMGN

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