Brokerages predict that ImmunoGen, Inc. (NASDAQ:IMGN) will report $10.00 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for ImmunoGen’s earnings, with estimates ranging from $8.20 million to $11.00 million. ImmunoGen reported sales of $19.82 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 49.5%. The company is scheduled to issue its next earnings results on Friday, May 3rd.
On average, analysts expect that ImmunoGen will report full-year sales of $43.44 million for the current fiscal year, with estimates ranging from $41.57 million to $44.44 million. For the next fiscal year, analysts forecast that the company will post sales of $42.49 million, with estimates ranging from $22.50 million to $52.25 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for ImmunoGen.
ImmunoGen (NASDAQ:IMGN) last announced its quarterly earnings results on Friday, February 8th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.05. ImmunoGen had a negative return on equity of 599.63% and a negative net margin of 311.94%. The firm had revenue of $13.79 million during the quarter, compared to the consensus estimate of $12.42 million. During the same period in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was down 65.0% compared to the same quarter last year.
Shares of NASDAQ IMGN opened at $2.67 on Friday. ImmunoGen has a 12-month low of $2.27 and a 12-month high of $12.31. The firm has a market capitalization of $409.38 million, a P/E ratio of -2.27 and a beta of 2.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.95 and a quick ratio of 3.95.
In other news, CEO Mark J. Enyedy sold 51,070 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $5.60, for a total transaction of $285,992.00. Following the transaction, the chief executive officer now owns 483,768 shares of the company’s stock, valued at $2,709,100.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Ryll sold 11,495 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $5.60, for a total transaction of $64,372.00. Following the transaction, the vice president now directly owns 87,184 shares in the company, valued at approximately $488,230.40. The disclosure for this sale can be found here. Company insiders own 4.44% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Private Advisor Group LLC acquired a new stake in ImmunoGen during the fourth quarter worth about $56,000. Jane Street Group LLC raised its stake in ImmunoGen by 226.1% during the third quarter. Jane Street Group LLC now owns 12,866 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 23,072 shares during the period. MML Investors Services LLC acquired a new stake in ImmunoGen during the third quarter worth about $130,000. Fox Run Management L.L.C. acquired a new stake in ImmunoGen during the fourth quarter worth about $73,000. Finally, AlphaCrest Capital Management LLC acquired a new stake in ImmunoGen during the fourth quarter worth about $78,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.
ImmunoGen, Inc, a clinical-stage biotechnology company, focuses on developing 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, as well as coltuximab ravtansine, a CD19-targeting ADC, which is in Phase II trial for DLBCL.
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