-$0.19 EPS Expected for ImmunoGen, Inc. (NASDAQ:IMGN) This Quarter

Wall Street brokerages expect ImmunoGen, Inc. (NASDAQ:IMGN) to report earnings per share of ($0.19) for the current fiscal quarter, Zacks reports. Six analysts have made estimates for ImmunoGen’s earnings. The highest EPS estimate is ($0.16) and the lowest is ($0.22). ImmunoGen posted earnings of ($0.17) per share in the same quarter last year, which would suggest a negative year over year growth rate of 11.8%. The business is expected to report its next earnings results on Friday, May 7th.

On average, analysts expect that ImmunoGen will report full-year earnings of ($0.77) per share for the current year, with EPS estimates ranging from ($0.83) to ($0.71). For the next financial year, analysts forecast that the company will report earnings of ($0.76) per share, with EPS estimates ranging from ($1.23) to ($0.47). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Thursday, February 11th. The biotechnology company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.24. The company had revenue of $85.80 million during the quarter, compared to analyst estimates of $50.61 million.

IMGN has been the topic of several research reports. Zacks Investment Research downgraded shares of ImmunoGen from a “hold” rating to a “sell” rating and set a $9.50 price objective on the stock. in a report on Thursday, February 18th. TheStreet lowered shares of ImmunoGen from a “c” rating to a “d+” rating in a research report on Friday, March 26th. Finally, HC Wainwright raised their price target on shares of ImmunoGen from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.00.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Scotia Capital Inc. boosted its stake in shares of ImmunoGen by 7.8% in the 4th quarter. Scotia Capital Inc. now owns 21,860 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 1,582 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of ImmunoGen by 1.1% in the 3rd quarter. California State Teachers Retirement System now owns 259,545 shares of the biotechnology company’s stock valued at $934,000 after purchasing an additional 2,734 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of ImmunoGen by 193.3% in the 4th quarter. Penserra Capital Management LLC now owns 4,370 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 2,880 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of ImmunoGen by 13.2% in the 4th quarter. Victory Capital Management Inc. now owns 29,216 shares of the biotechnology company’s stock valued at $188,000 after purchasing an additional 3,411 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of ImmunoGen by 4.5% in the 4th quarter. American International Group Inc. now owns 107,387 shares of the biotechnology company’s stock valued at $693,000 after purchasing an additional 4,648 shares in the last quarter. Institutional investors own 72.95% of the company’s stock.

Shares of NASDAQ:IMGN traded up $0.17 on Friday, hitting $7.75. The company had a trading volume of 58,088 shares, compared to its average volume of 2,363,971. ImmunoGen has a 1-year low of $3.38 and a 1-year high of $10.88. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -18.93 and a beta of 1.65. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $7.12.

ImmunoGen Company Profile

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; 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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