ImmunoGen (IMGN) Releases Earnings Results, Misses Estimates By $0.03 EPS
ImmunoGen (NASDAQ:IMGN) issued its quarterly earnings data on Friday. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03), Morningstar.com reports. The company had revenue of $39.40 million during the quarter, compared to analyst estimates of $39.62 million. The firm’s revenue was up 185.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS.
Shares of ImmunoGen (NASDAQ:IMGN) opened at $8.91 on Friday. ImmunoGen has a 52-week low of $2.31 and a 52-week high of $10.04. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of -0.03.
IMGN has been the topic of a number of research reports. Zacks Investment Research upgraded ImmunoGen from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Tuesday, October 31st. Cantor Fitzgerald restated a “hold” rating and set a $5.00 price objective on shares of ImmunoGen in a research report on Friday, November 3rd. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. HC Wainwright initiated coverage on ImmunoGen in a research report on Wednesday, January 31st. They set a “buy” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $12.00 price objective on shares of ImmunoGen in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.83.
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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