ImmunoGen, Inc. Forecasted to Earn Q3 2017 Earnings of ($0.16) Per Share (IMGN)
ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at Leerink Swann lifted their Q3 2017 earnings estimates for shares of ImmunoGen in a research report issued to clients and investors on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will earn ($0.16) per share for the quarter, up from their previous forecast of ($0.17). Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.22) EPS, FY2017 earnings at ($0.71) EPS, FY2018 earnings at ($0.98) EPS, FY2019 earnings at ($1.04) EPS and FY2020 earnings at ($0.77) EPS.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. The firm’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period last year, the business posted ($0.53) EPS.
Several other research analysts also recently issued reports on IMGN. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the company a “hold” rating in a research note on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research note on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.05.
ImmunoGen (IMGN) opened at 6.00 on Monday. The stock has a 50 day moving average of $7.13 and a 200 day moving average of $5.68. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.84. The company’s market cap is $537.58 million.
In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at $355,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.51% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in ImmunoGen by 37,346.0% during the 1st quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after purchasing an additional 186,730 shares during the period. Stifel Financial Corp increased its position in ImmunoGen by 14.2% during the 1st quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 12,907 shares during the period. Neuberger Berman Group LLC increased its position in ImmunoGen by 8.2% during the 1st quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after purchasing an additional 3,616 shares during the period. Geode Capital Management LLC increased its position in ImmunoGen by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 22,991 shares during the period. Finally, Vanguard Group Inc. increased its position in ImmunoGen by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after purchasing an additional 27,141 shares during the period. 72.85% of the stock is owned by institutional investors and hedge funds.
ImmunoGen Company Profile
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.
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