ImmunoGen (NASDAQ:IMGN) Posts Earnings Results, Beats Estimates By $0.04 EPS
ImmunoGen (NASDAQ:IMGN) released its quarterly earnings results on Friday. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04, MarketWatch Earnings reports. The company had revenue of $15.03 million during the quarter, compared to analyst estimates of $14.29 million. ImmunoGen updated its FY 2020
Pre-Market guidance to EPS.
Shares of NASDAQ:IMGN traded down $0.26 during midday trading on Friday, reaching $4.11. The company’s stock had a trading volume of 2,957,467 shares, compared to its average volume of 2,157,910. The firm has a market cap of $716.83 million, a price-to-earnings ratio of -7.09 and a beta of 2.48. ImmunoGen has a 1 year low of $1.95 and a 1 year high of $7.07. The business has a 50 day moving average price of $4.50 and a 200 day moving average price of $4.33.
A number of research firms have recently weighed in on IMGN. Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of ImmunoGen in a report on Thursday, May 14th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of ImmunoGen in a research report on Monday, June 1st. Finally, BidaskClub raised ImmunoGen from a “sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $8.25.
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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