Equities analysts forecast that ImmunoGen, Inc. (NASDAQ:IMGN) will report earnings per share of ($0.25) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for ImmunoGen’s earnings, with the lowest EPS estimate coming in at ($0.29) and the highest estimate coming in at ($0.18). ImmunoGen posted earnings per share of ($0.30) during the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings results on Friday, July 26th.
According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($0.98) per share for the current financial year, with EPS estimates ranging from ($1.14) to ($0.78). For the next fiscal year, analysts expect that the firm will post earnings of ($0.83) per share, with EPS estimates ranging from ($1.01) to ($0.66). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, May 3rd. The biotechnology company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $10.59 million. ImmunoGen had a negative return on equity of 573.13% and a negative net margin of 406.27%. The company’s revenue was down 56.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share.
A number of research analysts recently issued reports on IMGN shares. Morgan Stanley upgraded ImmunoGen from an “underweight” rating to an “equal weight” rating and set a $2.68 target price for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. downgraded ImmunoGen from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 19th. HC Wainwright raised ImmunoGen from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, May 6th. BidaskClub downgraded ImmunoGen from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 6th. Finally, Cowen raised ImmunoGen from a “market perform” rating to an “outperform” rating and set a $2.94 price target for the company in a report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.03.
Shares of NASDAQ IMGN traded up $0.11 during midday trading on Thursday, hitting $2.05. The stock had a trading volume of 2,875,315 shares, compared to its average volume of 3,660,250. ImmunoGen has a 1 year low of $1.76 and a 1 year high of $11.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.72 and a quick ratio of 4.72. The firm has a market capitalization of $290.09 million, a P/E ratio of -1.74 and a beta of 2.24. The company’s 50 day simple moving average is $2.16.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMGN. Stratos Wealth Advisors LLC purchased a new stake in shares of ImmunoGen during the 1st quarter worth approximately $38,000. Marshall Wace North America L.P. purchased a new stake in ImmunoGen in the 1st quarter valued at approximately $52,000. Wedbush Securities Inc. purchased a new stake in ImmunoGen in the 1st quarter valued at approximately $53,000. Private Advisor Group LLC purchased a new stake in ImmunoGen in the 4th quarter valued at approximately $56,000. Finally, Virtu Financial LLC purchased a new stake in ImmunoGen in the 1st quarter valued at approximately $73,000. Institutional investors own 78.58% of the company’s stock.
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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