ImmunoGen, Inc. (NASDAQ:IMGN) Posts Earnings Results, Misses Estimates By $0.42 EPS

ImmunoGen, Inc. (NASDAQ:IMGN) issued its quarterly earnings data on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.42), Bloomberg Earnings reports. The firm had revenue of $8.50 million during the quarter, compared to analysts’ expectations of $26.09 million. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted ($0.51) EPS.

Shares of ImmunoGen (IMGN) traded down $0.45 during trading on Monday, hitting $5.70. 3,755,270 shares of the company’s stock were exchanged, compared to its average volume of 2,894,315. ImmunoGen has a 1-year low of $1.53 and a 1-year high of $8.84. The company has a debt-to-equity ratio of -0.03, a current ratio of 2.81 and a quick ratio of 2.78.

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Several analysts have issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of ImmunoGen in a research note on Wednesday, August 30th. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Tuesday, August 29th. Cantor Fitzgerald reissued a “hold” rating and issued a $5.00 price objective on shares of ImmunoGen in a research note on Monday, September 25th. ValuEngine lowered shares of ImmunoGen from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Finally, Leerink Swann reaffirmed a “buy” rating on shares of ImmunoGen in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.83.

In related news, VP Craig Barrows sold 14,600 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $6.95, for a total transaction of $101,470.00. Following the completion of the transaction, the vice president now owns 51,100 shares in the company, valued at approximately $355,145. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.51% of the company’s stock.

About ImmunoGen

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.

Earnings History for ImmunoGen (NASDAQ:IMGN)

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