William Blair Brokers Decrease Earnings Estimates for ImmunoGen, Inc. (IMGN)

ImmunoGen, Inc. (NASDAQ:IMGN) – Equities researchers at William Blair decreased their Q3 2019 earnings per share (EPS) estimates for ImmunoGen in a research note issued to investors on Wednesday, May 15th. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings of ($0.25) per share for the quarter, down from their previous forecast of ($0.24). William Blair also issued estimates for ImmunoGen’s Q4 2019 earnings at ($0.25) EPS, FY2019 earnings at ($1.03) EPS, Q1 2020 earnings at ($0.25) EPS, Q2 2020 earnings at ($0.25) EPS, Q3 2020 earnings at ($0.25) EPS, Q4 2020 earnings at ($0.25) EPS, FY2020 earnings at ($1.01) EPS and FY2021 earnings at ($1.16) EPS.

Several other research firms have also commented on IMGN. BidaskClub lowered ImmunoGen from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 31st. ValuEngine lowered ImmunoGen from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Piper Jaffray Companies lowered ImmunoGen from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $2.50 in a research report on Friday, March 1st. Jefferies Financial Group lowered ImmunoGen from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Cowen reaffirmed a “hold” rating on shares of ImmunoGen in a research report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.03.



Shares of NASDAQ IMGN opened at $2.05 on Friday. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.19. ImmunoGen has a fifty-two week low of $1.90 and a fifty-two week high of $12.31. The stock has a market cap of $320.00 million, a PE ratio of -1.74 and a beta of 2.12.

ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, May 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative return on equity of 573.13% and a negative net margin of 406.27%. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $10.59 million. During the same quarter last year, the company earned ($0.30) EPS. The business’s quarterly revenue was down 56.6% on a year-over-year basis.

In other ImmunoGen news, CEO Mark J. Enyedy sold 51,070 shares of ImmunoGen stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $5.60, for a total value of $285,992.00. Following the transaction, the chief executive officer now directly owns 483,768 shares in the company, valued at approximately $2,709,100.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Ryll sold 11,495 shares of ImmunoGen stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $5.60, for a total value of $64,372.00. Following the completion of the transaction, the vice president now owns 87,184 shares in the company, valued at $488,230.40. The disclosure for this sale can be found here. Insiders own 4.44% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC purchased a new position in shares of ImmunoGen in the 1st quarter valued at approximately $28,000. Stratos Wealth Advisors LLC purchased a new position in shares of ImmunoGen in the 1st quarter valued at approximately $38,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of ImmunoGen in the 1st quarter valued at approximately $48,000. Marshall Wace North America L.P. purchased a new position in shares of ImmunoGen in the 1st quarter valued at approximately $52,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of ImmunoGen in the first quarter valued at approximately $52,000. Institutional investors own 82.36% of the company’s stock.

About ImmunoGen

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.

Featured Story: How Do Mutual Funds Work?

Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

Receive News & Ratings for ImmunoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunoGen and related companies with MarketBeat.com's FREE daily email newsletter.