ImmunoGen, Inc. Expected to Post FY2020 Earnings of ($1.42) Per Share (IMGN)
ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at William Blair issued their FY2020 earnings per share (EPS) estimates for shares of ImmunoGen in a research note issued on Friday. William Blair analyst A. Hsieh forecasts that the biotechnology company will earn ($1.42) per share for the year.
ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.42). The business had revenue of $8.50 million during the quarter, compared to analyst estimates of $26.09 million. During the same period in the prior year, the business posted ($0.51) EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on IMGN. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Tuesday, October 31st. Canaccord Genuity set a $8.00 price objective on ImmunoGen and gave the stock a “buy” rating in a report on Monday, July 31st. Cantor Fitzgerald reiterated a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a report on Friday, November 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a report on Monday, August 7th. Finally, ValuEngine lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.83.
ImmunoGen (NASDAQ IMGN) traded up $0.05 during midday trading on Monday, reaching $5.59. The company’s stock had a trading volume of 1,713,456 shares, compared to its average volume of 3,744,617. ImmunoGen has a 1-year low of $1.53 and a 1-year high of $8.84. The company has a debt-to-equity ratio of -0.56, a current ratio of 2.40 and a quick ratio of 2.34.
In other news, VP Craig Barrows sold 37,050 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $6.81, for a total value of $252,310.50. Following the completion of the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at approximately $347,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.51% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. FMR LLC increased its position in ImmunoGen by 598.9% during the 2nd quarter. FMR LLC now owns 5,605,285 shares of the biotechnology company’s stock valued at $39,854,000 after buying an additional 4,803,256 shares in the last quarter. State Street Corp increased its position in ImmunoGen by 159.1% during the 2nd quarter. State Street Corp now owns 4,141,583 shares of the biotechnology company’s stock valued at $29,450,000 after buying an additional 2,542,876 shares in the last quarter. Redmile Group LLC increased its position in ImmunoGen by 30.8% during the 2nd quarter. Redmile Group LLC now owns 5,212,736 shares of the biotechnology company’s stock valued at $37,063,000 after buying an additional 1,228,002 shares in the last quarter. EAM Investors LLC bought a new position in ImmunoGen during the 2nd quarter valued at approximately $4,144,000. Finally, Candriam Luxembourg S.C.A. bought a new position in ImmunoGen during the 2nd quarter valued at approximately $4,053,000. 72.99% of the stock is owned by hedge funds and other institutional investors.
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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