ImmunoGen, Inc. Forecasted to Earn Q3 2017 Earnings of ($0.16) Per Share (IMGN)

ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at Leerink Swann lifted their Q3 2017 earnings estimates for shares of ImmunoGen in a research report issued to clients and investors on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will earn ($0.16) per share for the quarter, up from their previous forecast of ($0.17). Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.22) EPS, FY2017 earnings at ($0.71) EPS, FY2018 earnings at ($0.98) EPS, FY2019 earnings at ($1.04) EPS and FY2020 earnings at ($0.77) EPS.

ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. The firm’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period last year, the business posted ($0.53) EPS.

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Several other research analysts also recently issued reports on IMGN. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the company a “hold” rating in a research note on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research note on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.05.

ImmunoGen (IMGN) opened at 6.00 on Monday. The stock has a 50 day moving average of $7.13 and a 200 day moving average of $5.68. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.84. The company’s market cap is $537.58 million.

In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at $355,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in ImmunoGen by 37,346.0% during the 1st quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after purchasing an additional 186,730 shares during the period. Stifel Financial Corp increased its position in ImmunoGen by 14.2% during the 1st quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 12,907 shares during the period. Neuberger Berman Group LLC increased its position in ImmunoGen by 8.2% during the 1st quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after purchasing an additional 3,616 shares during the period. Geode Capital Management LLC increased its position in ImmunoGen by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 22,991 shares during the period. Finally, Vanguard Group Inc. increased its position in ImmunoGen by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after purchasing an additional 27,141 shares during the period. 72.85% of the stock is owned by institutional investors and hedge funds.

ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antib

ImmunoGen, Inc. (NASDAQ:IMGN) – Research analysts at Leerink Swann lifted their Q3 2017 earnings estimates for shares of ImmunoGen in a research report issued to clients and investors on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will earn ($0.16) per share for the quarter, up from their previous forecast of ($0.17). Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.22) EPS, FY2017 earnings at ($0.71) EPS, FY2018 earnings at ($0.98) EPS, FY2019 earnings at ($1.04) EPS and FY2020 earnings at ($0.77) EPS.

ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, July 28th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $39.02 million during the quarter, compared to the consensus estimate of $30.59 million. The firm’s revenue for the quarter was up 426.6% compared to the same quarter last year. During the same period last year, the business posted ($0.53) EPS.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/17/immunogen-inc-forecasted-to-earn-q3-2017-earnings-of-0-16-per-share-imgn.html.

Several other research analysts also recently issued reports on IMGN. Zacks Investment Research downgraded ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Royal Bank Of Canada set a $5.00 price objective on ImmunoGen and gave the company a “hold” rating in a research note on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research note on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.05.

ImmunoGen (IMGN) opened at 6.00 on Monday. The stock has a 50 day moving average of $7.13 and a 200 day moving average of $5.68. ImmunoGen has a 52 week low of $1.51 and a 52 week high of $8.84. The company’s market cap is $537.58 million.

In other news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $6.95, for a total value of $101,470.00. Following the completion of the transaction, the vice president now owns 51,100 shares of the company’s stock, valued at $355,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in ImmunoGen by 37,346.0% during the 1st quarter. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company’s stock valued at $725,000 after purchasing an additional 186,730 shares during the period. Stifel Financial Corp increased its position in ImmunoGen by 14.2% during the 1st quarter. Stifel Financial Corp now owns 103,815 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 12,907 shares during the period. Neuberger Berman Group LLC increased its position in ImmunoGen by 8.2% during the 1st quarter. Neuberger Berman Group LLC now owns 47,943 shares of the biotechnology company’s stock valued at $186,000 after purchasing an additional 3,616 shares during the period. Geode Capital Management LLC increased its position in ImmunoGen by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 678,343 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 22,991 shares during the period. Finally, Vanguard Group Inc. increased its position in ImmunoGen by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,110,431 shares of the biotechnology company’s stock valued at $15,907,000 after purchasing an additional 27,141 shares during the period. 72.85% of the stock is owned by institutional investors and hedge funds.

ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.

Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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