Brokerages Expect ImmunoGen, Inc. (NASDAQ:IMGN) to Post -$0.23 EPS

Equities analysts forecast that ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) will post earnings per share of ($0.23) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for ImmunoGen’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.28). ImmunoGen posted earnings of ($0.15) per share in the same quarter last year, which indicates a negative year over year growth rate of 53.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ImmunoGen will report full-year earnings of ($0.85) per share for the current fiscal year, with EPS estimates ranging from ($0.96) to ($0.74). For the next year, analysts forecast that the business will report earnings of ($0.73) per share, with EPS estimates ranging from ($0.89) to ($0.46). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for ImmunoGen.

ImmunoGen (NASDAQ:IMGNGet Rating) last announced its earnings results on Friday, May 6th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. ImmunoGen had a negative net margin of 140.30% and a negative return on equity of 66.56%. The firm had revenue of $38.10 million for the quarter, compared to analysts’ expectations of $20.84 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was up 142.7% on a year-over-year basis.

A number of brokerages have weighed in on IMGN. SVB Leerink cut their price objective on shares of ImmunoGen from $7.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, February 22nd. BMO Capital Markets started coverage on shares of ImmunoGen in a report on Friday, February 11th. They set an “outperform” rating and a $18.00 price target on the stock. upgraded shares of ImmunoGen from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada cut shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $9.00 to $6.00 in a report on Monday, March 21st. Finally, TheStreet cut shares of ImmunoGen from a “c-” rating to a “d” rating in a report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, ImmunoGen has a consensus rating of “Hold” and a consensus target price of $10.25.

A number of hedge funds have recently modified their holdings of IMGN. Jump Financial LLC bought a new position in ImmunoGen in the third quarter worth approximately $57,000. Virginia Retirement Systems ET AL bought a new position in ImmunoGen in the fourth quarter worth approximately $76,000. Xponance Inc. bought a new position in ImmunoGen in the first quarter worth approximately $49,000. Fox Run Management L.L.C. bought a new position in ImmunoGen in the fourth quarter worth approximately $77,000. Finally, HighTower Advisors LLC bought a new position in ImmunoGen in the fourth quarter worth approximately $77,000. Institutional investors own 87.45% of the company’s stock.

IMGN traded down $0.01 during midday trading on Friday, reaching $3.83. The company’s stock had a trading volume of 7,353,723 shares, compared to its average volume of 3,117,094. The firm has a market capitalization of $844.67 million, a price-to-earnings ratio of -6.38 and a beta of 1.16. ImmunoGen has a 1 year low of $3.46 and a 1 year high of $7.77. The stock’s 50-day moving average is $4.93 and its 200-day moving average is $5.68.

About ImmunoGen (Get Rating)

ImmunoGen, Inc, a clinical-stage biotechnology company, develops antibody-drug conjugate (ADC) therapies to treat cancer. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; and Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.

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