Wall Street analysts expect that ImmunoGen, Inc. (NASDAQ:IMGN) will report $10.36 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for ImmunoGen’s earnings, with estimates ranging from $9.68 million to $11.00 million. ImmunoGen posted sales of $19.82 million in the same quarter last year, which would indicate a negative year over year growth rate of 47.7%. The company is scheduled to announce its next earnings report on Friday, May 3rd.
On average, analysts expect that ImmunoGen will report full-year sales of $43.31 million for the current year, with estimates ranging from $41.57 million to $44.44 million. For the next year, analysts forecast that the business will post sales of $65.94 million, with estimates ranging from $42.60 million to $94.80 million. Zacks’ sales calculations are an average based on a survey of analysts that cover ImmunoGen.
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ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings data on Friday, February 8th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. The business had revenue of $13.79 million during the quarter, compared to the consensus estimate of $12.42 million. ImmunoGen had a negative return on equity of 499.19% and a negative net margin of 311.94%. The firm’s revenue was down 65.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share.
A number of research firms recently commented on IMGN. Svb Leerink downgraded ImmunoGen from an “outperform” rating to a “market perform” rating in a report on Monday. BidaskClub upgraded ImmunoGen from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. Piper Jaffray Companies downgraded ImmunoGen from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $13.00 to $2.50 in a report on Friday. Leerink Swann downgraded ImmunoGen from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Cowen restated a “hold” rating on shares of ImmunoGen in a report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.28.
NASDAQ IMGN traded up $0.14 on Thursday, reaching $2.74. The company had a trading volume of 7,720,243 shares, compared to its average volume of 3,952,196. The company has a market capitalization of $854.29 million, a PE ratio of -2.32 and a beta of 2.36. The company has a current ratio of 4.59, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04. ImmunoGen has a 52 week low of $2.27 and a 52 week high of $13.41.
In other ImmunoGen news, CEO Mark J. Enyedy sold 51,070 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $5.60, for a total value of $285,992.00. Following the completion of the sale, the chief executive officer now directly owns 483,768 shares in the company, valued at $2,709,100.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Ryll sold 11,495 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $5.60, for a total value of $64,372.00. Following the completion of the sale, the vice president now owns 87,184 shares of the company’s stock, valued at $488,230.40. The disclosure for this sale can be found here. Insiders sold 65,603 shares of company stock valued at $366,374 over the last 90 days. Corporate insiders own 4.44% of the company’s stock.
Several hedge funds have recently bought and sold shares of IMGN. FMR LLC boosted its position in shares of ImmunoGen by 34.0% during the second quarter. FMR LLC now owns 8,704,234 shares of the biotechnology company’s stock worth $84,692,000 after buying an additional 2,208,796 shares during the period. Northern Trust Corp boosted its position in shares of ImmunoGen by 30.0% during the second quarter. Northern Trust Corp now owns 1,592,167 shares of the biotechnology company’s stock worth $15,492,000 after buying an additional 367,337 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of ImmunoGen during the third quarter worth about $579,000. Public Employees Retirement Association of Colorado acquired a new position in shares of ImmunoGen during the third quarter worth about $185,000. Finally, Signition LP acquired a new position in shares of ImmunoGen during the third quarter worth about $115,000. 83.94% of the stock is owned by institutional investors.
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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