ImmunoGen, Inc. (NASDAQ:IMGN) – Stock analysts at William Blair upped their FY2023 earnings per share (EPS) estimates for shares of ImmunoGen in a report released on Tuesday, June 8th. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings of ($0.61) per share for the year, up from their previous estimate of ($0.64). William Blair currently has a “Outperform” rating on the stock.
Several other research analysts have also recently commented on the stock. TheStreet cut shares of ImmunoGen from a “c” rating to a “d+” rating in a report on Friday, March 26th. HC Wainwright raised their price objective on shares of ImmunoGen from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. Finally, Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating and set a $9.50 price objective on the stock. in a research report on Thursday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.00.
ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Monday, May 10th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. ImmunoGen had a negative return on equity of 169.72% and a negative net margin of 36.62%. The business had revenue of $15.70 million for the quarter, compared to analysts’ expectations of $17.52 million. ImmunoGen’s revenue was up 18.0% compared to the same quarter last year.
Several hedge funds have recently bought and sold shares of the stock. Northern Trust Corp grew its position in ImmunoGen by 2.9% during the fourth quarter. Northern Trust Corp now owns 2,118,275 shares of the biotechnology company’s stock valued at $13,663,000 after purchasing an additional 59,250 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in ImmunoGen in the 4th quarter worth approximately $322,000. Los Angeles Capital Management LLC boosted its stake in shares of ImmunoGen by 34.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 159,778 shares of the biotechnology company’s stock valued at $1,031,000 after buying an additional 40,780 shares during the period. Morgan Stanley grew its holdings in shares of ImmunoGen by 158.7% during the 4th quarter. Morgan Stanley now owns 4,646,239 shares of the biotechnology company’s stock valued at $29,968,000 after acquiring an additional 2,850,590 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of ImmunoGen by 502.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 74,592 shares of the biotechnology company’s stock worth $481,000 after acquiring an additional 62,217 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.
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; 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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