ImmunoGen, Inc. (NASDAQ:IMGN) – Investment analysts at Leerink Swann reduced their FY2018 EPS estimates for shares of ImmunoGen in a note issued to investors on Monday, Zacks Investment Research reports. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will earn ($1.07) per share for the year, down from their prior estimate of ($0.98). Leerink Swann also issued estimates for ImmunoGen’s Q4 2018 earnings at ($0.27) EPS, FY2019 earnings at ($0.93) EPS and FY2020 earnings at ($0.66) EPS.
Several other equities analysts have also commented on IMGN. ValuEngine raised ImmunoGen from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research lowered ImmunoGen from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. BidaskClub raised ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of ImmunoGen in a report on Thursday, February 8th. Finally, HC Wainwright assumed coverage on ImmunoGen in a report on Wednesday, January 31st. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $10.21.
Shares of ImmunoGen (NASDAQ:IMGN) traded down $0.86 during midday trading on Wednesday, reaching $10.79. The company’s stock had a trading volume of 4,460,008 shares, compared to its average volume of 3,410,000. The firm has a market capitalization of $1,430.00, a PE ratio of -10.58 and a beta of 2.17. ImmunoGen has a 12-month low of $2.84 and a 12-month high of $12.05. The company has a debt-to-equity ratio of -0.03, a current ratio of 2.81 and a quick ratio of 2.78.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $39.62 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. The firm’s quarterly revenue was up 185.5% compared to the same quarter last year.
In related news, CEO Mark J. Enyedy sold 67,717 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $10.87, for a total value of $736,083.79. Following the completion of the transaction, the chief executive officer now directly owns 532,383 shares of the company’s stock, valued at approximately $5,787,003.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard J. Gregory sold 34,486 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $10.88, for a total value of $375,207.68. Following the completion of the transaction, the vice president now directly owns 239,094 shares of the company’s stock, valued at $2,601,342.72. The disclosure for this sale can be found here. Insiders sold a total of 197,834 shares of company stock valued at $2,118,633 over the last three months. Corporate insiders own 6.51% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMGN. Arrowstreet Capital Limited Partnership acquired a new stake in ImmunoGen in the second quarter worth approximately $102,000. Intl Fcstone Inc. acquired a new stake in ImmunoGen in the second quarter worth approximately $115,000. SG Americas Securities LLC lifted its position in ImmunoGen by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 18,416 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 7,937 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in ImmunoGen in the second quarter worth approximately $126,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in ImmunoGen in the third quarter worth approximately $136,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. 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.
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