ImmunoGen, Inc. (NASDAQ:IMGN – Free Report) – Equities research analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of ImmunoGen in a research report issued on Thursday, September 21st. Zacks Research analyst A. Chakraborty now expects that the biotechnology company will earn ($0.04) per share for the quarter, up from their prior estimate of ($0.05). The consensus estimate for ImmunoGen’s current full-year earnings is ($0.12) per share. Zacks Research also issued estimates for ImmunoGen’s Q3 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.09) EPS and FY2025 earnings at $0.58 EPS.
ImmunoGen (NASDAQ:IMGN – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. ImmunoGen had a negative return on equity of 76.92% and a negative net margin of 96.02%. The company had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $49.15 million. During the same period last year, the business posted ($0.24) earnings per share. The firm’s revenue was up 485.9% compared to the same quarter last year.
Check Out Our Latest Research Report on IMGN
ImmunoGen Stock Down 1.1 %
ImmunoGen stock opened at $14.77 on Monday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -20.51 and a beta of 1.00. ImmunoGen has a 52 week low of $3.61 and a 52 week high of $20.69. The business’s 50-day moving average price is $16.36 and its 200 day moving average price is $12.96. The company has a quick ratio of 7.11, a current ratio of 7.14 and a debt-to-equity ratio of 0.15.
Hedge Funds Weigh In On ImmunoGen
A number of hedge funds have recently modified their holdings of IMGN. RA Capital Management L.P. increased its stake in shares of ImmunoGen by 0.5% in the 4th quarter. RA Capital Management L.P. now owns 21,853,958 shares of the biotechnology company’s stock valued at $108,396,000 after buying an additional 112,500 shares during the period. BlackRock Inc. boosted its position in shares of ImmunoGen by 16.2% in the 2nd quarter. BlackRock Inc. now owns 20,904,986 shares of the biotechnology company’s stock worth $394,477,000 after purchasing an additional 2,908,657 shares during the last quarter. State Street Corp boosted its position in shares of ImmunoGen by 32.8% in the 2nd quarter. State Street Corp now owns 18,199,554 shares of the biotechnology company’s stock worth $81,898,000 after purchasing an additional 4,492,165 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ImmunoGen by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 15,478,516 shares of the biotechnology company’s stock worth $73,678,000 after purchasing an additional 346,764 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in ImmunoGen by 6.9% during the first quarter. Wellington Management Group LLP now owns 9,864,785 shares of the biotechnology company’s stock worth $37,881,000 after acquiring an additional 638,077 shares in the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at ImmunoGen
In other ImmunoGen news, CEO Mark J. Enyedy sold 1,020,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $16.61, for a total value of $16,942,200.00. Following the completion of the sale, the chief executive officer now directly owns 441,449 shares in the company, valued at $7,332,467.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ImmunoGen news, insider Renee Lentini sold 148,277 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $17.55, for a total value of $2,602,261.35. Following the completion of the sale, the insider now owns 22,843 shares in the company, valued at approximately $400,894.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark J. Enyedy sold 1,020,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $16.61, for a total value of $16,942,200.00. Following the completion of the sale, the chief executive officer now owns 441,449 shares of the company’s stock, valued at approximately $7,332,467.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,545,081 shares of company stock worth $25,378,783. Company insiders own 5.07% of the company’s stock.
ImmunoGen Company Profile
ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm.
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