ImmunoGen (NASDAQ:IMGN) – Investment analysts at Cantor Fitzgerald lowered their FY2018 EPS estimates for shares of ImmunoGen in a research note issued on Wednesday, April 11th. Cantor Fitzgerald analyst M. Goldstein now forecasts that the biotechnology company will earn ($1.08) per share for the year, down from their prior forecast of ($1.03). Cantor Fitzgerald has a “Hold” rating and a $5.00 price objective on the stock.
Several other research analysts have also weighed in on IMGN. HC Wainwright set a $18.00 price objective on ImmunoGen and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub lowered ImmunoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Leerink Swann reiterated an “outperform” rating on shares of ImmunoGen in a research report on Monday, March 26th. Finally, Zacks Investment Research upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Monday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. ImmunoGen has a consensus rating of “Buy” and a consensus price target of $10.79.
ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $39.40 million during the quarter, compared to the consensus estimate of $39.62 million. The business’s revenue for the quarter was up 185.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.39) EPS.
In other ImmunoGen news, CFO David Brannon Johnston sold 10,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $11.53, for a total transaction of $115,300.00. Following the transaction, the chief financial officer now directly owns 190,690 shares in the company, valued at $2,198,655.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Junius sold 25,000 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $12.02, for a total value of $300,500.00. Following the transaction, the director now owns 209,987 shares in the company, valued at $2,524,043.74. The disclosure for this sale can be found here. Insiders have sold 229,930 shares of company stock worth $2,515,150 over the last 90 days. 6.51% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in ImmunoGen by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 7,937 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in ImmunoGen during the third quarter worth $136,000. Cubist Systematic Strategies LLC acquired a new position in ImmunoGen during the third quarter worth $143,000. Engineers Gate Manager LP acquired a new position in ImmunoGen during the fourth quarter worth $149,000. Finally, Dynamic Advisors Solutions LLC acquired a new position in ImmunoGen during the fourth quarter worth $150,000. Institutional investors own 78.25% of the company’s stock.
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ImmunoGen Company Profile
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing 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, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
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