Brokerages forecast that ImmunoGen, Inc. (NASDAQ:IMGN) will report sales of $10.33 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for ImmunoGen’s earnings, with the highest sales estimate coming in at $11.40 million and the lowest estimate coming in at $8.63 million. ImmunoGen reported sales of $9.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The business is scheduled to report its next earnings results before the market opens on Friday, July 26th.

According to Zacks, analysts expect that ImmunoGen will report full year sales of $37.40 million for the current financial year, with estimates ranging from $25.50 million to $43.83 million. For the next year, analysts expect that the business will report sales of $37.96 million, with estimates ranging from $17.30 million to $53.21 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last issued its quarterly earnings data on Friday, May 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.01. ImmunoGen had a negative return on equity of 573.13% and a negative net margin of 406.27%. The business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $10.59 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue was down 56.6% on a year-over-year basis.

IMGN has been the subject of a number of research reports. Cowen reaffirmed a “buy” rating on shares of ImmunoGen in a research note on Thursday, June 27th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. HC Wainwright cut Hydrogenics from a “buy” rating to a “neutral” rating in a research note on Friday, June 28th. Guggenheim cut ImmunoGen from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. Finally, BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. ImmunoGen currently has a consensus rating of “Hold” and an average target price of $3.03.

Shares of NASDAQ IMGN traded down $0.04 during trading on Monday, reaching $2.29. The stock had a trading volume of 1,334,483 shares, compared to its average volume of 3,581,303. ImmunoGen has a fifty-two week low of $1.76 and a fifty-two week high of $10.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.72 and a current ratio of 4.72. The stock has a 50-day moving average price of $2.18. The stock has a market capitalization of $342.43 million, a P/E ratio of -1.94 and a beta of 2.31.

A number of large investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its holdings in ImmunoGen by 20.0% in the first quarter. Redmile Group LLC now owns 13,063,767 shares of the biotechnology company’s stock valued at $35,403,000 after purchasing an additional 2,179,160 shares during the period. BlackRock Inc. lifted its holdings in ImmunoGen by 7.8% during the 4th quarter. BlackRock Inc. now owns 12,378,204 shares of the biotechnology company’s stock worth $59,416,000 after buying an additional 896,227 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in ImmunoGen by 5.5% during the 1st quarter. Clearbridge Investments LLC now owns 8,870,628 shares of the biotechnology company’s stock worth $24,039,000 after buying an additional 464,147 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ImmunoGen by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 1,717,770 shares of the biotechnology company’s stock worth $8,245,000 after buying an additional 96,984 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in ImmunoGen by 76.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,607,596 shares of the biotechnology company’s stock worth $4,357,000 after buying an additional 698,820 shares during the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.

ImmunoGen Company Profile

ImmunoGen, Inc, a clinical-stage biotechnology company, develops 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.

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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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