-$0.23 Earnings Per Share Expected for ImmunoGen, Inc. (NASDAQ:IMGN) This Quarter

Equities research analysts expect ImmunoGen, Inc. (NASDAQ:IMGNGet Rating) to report earnings of ($0.23) per share for the current quarter, Zacks reports. 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 per share of ($0.15) during the same quarter last year, which would suggest a negative year-over-year growth rate of 53.3%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($0.96) to ($0.74). For the next year, analysts anticipate that the firm 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 a mean average based on a survey of research analysts that cover ImmunoGen.

ImmunoGen (NASDAQ:IMGNGet Rating) last posted its earnings results on Friday, May 6th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping 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 82.39%. The company had revenue of $38.10 million during the quarter, compared to analyst estimates of $20.84 million. During the same period in the prior year, the business posted ($0.17) earnings per share. ImmunoGen’s revenue for the quarter was up 142.7% on a year-over-year basis.

A number of research firms recently issued reports on IMGN. BMO Capital Markets began coverage on shares of ImmunoGen in a research note on Friday, February 11th. They issued an “outperform” rating and a $18.00 price target for the company. Royal Bank of Canada downgraded shares of ImmunoGen from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $9.00 to $6.00 in a research note on Monday, March 21st. StockNews.com raised shares of ImmunoGen from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. TheStreet cut shares of ImmunoGen from a “c-” rating to a “d” rating in a report on Friday, February 25th. Finally, SVB Leerink dropped their price target on shares of ImmunoGen from $7.00 to $5.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.25.

IMGN stock opened at $3.82 on Friday. ImmunoGen has a 1 year low of $3.46 and a 1 year high of $7.77. The company has a market cap of $842.46 million, a P/E ratio of -6.37 and a beta of 1.16. The firm has a 50-day moving average of $4.90 and a 200 day moving average of $5.66.

Several hedge funds have recently made changes to their positions in IMGN. BlackRock Inc. increased its holdings in ImmunoGen by 10.6% in the 1st quarter. BlackRock Inc. now owns 16,432,933 shares of the biotechnology company’s stock valued at $78,225,000 after acquiring an additional 1,569,629 shares during the last quarter. Vanguard Group Inc. increased its holdings in ImmunoGen by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 15,478,516 shares of the biotechnology company’s stock valued at $73,678,000 after acquiring an additional 346,764 shares during the last quarter. State Street Corp increased its holdings in ImmunoGen by 69.9% in the 1st quarter. State Street Corp now owns 13,707,389 shares of the biotechnology company’s stock valued at $65,247,000 after acquiring an additional 5,638,822 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in ImmunoGen by 32.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,286,193 shares of the biotechnology company’s stock valued at $76,324,000 after acquiring an additional 2,536,193 shares during the last quarter. Finally, Morgan Stanley increased its holdings in ImmunoGen by 2.0% in the 2nd quarter. Morgan Stanley now owns 4,286,501 shares of the biotechnology company’s stock valued at $28,248,000 after acquiring an additional 82,522 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.

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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