ImmunoGen, Inc. (NASDAQ:IMGN) Analyst Coverage

Author

15 July, 2017

Immunogen Inc (NASDAQ:IMGN) has trailing twelve month Return on Assets of -65.1%, which is key indicator of how profitable a company is relative to its total assets.

The consensus recommendation, according to Zacks Investment research, is 2.29. On the flip side, ImmunoGen has only a limited number of wholly owned candidates in its pipeline. Hence successful development and subsequent approval of its lead candidate, is crucial for growth at ImmunoGen. The company's collaborations with big healthcare companies not only validate its technology but also provide it with funds in the form of milestone and royalty and other payments. The company's a year ago sales total was 7410. Notably, estimates have been going down lately ahead of the company's Q2 earnings release.

The company's quick ratio for most recent quarter is 3.4 along with current ratio for most recent quarter of 3.5.

ImmunoGen, Inc. on 3/30/2017 reported its EPS as $-0.51 with the analysts projecting the EPS of the stock as $-0.39. Leerink Partners raised its rating on ImmunoGen, Inc.to Outperform on 19/04/2017 in a reversal from its prior Mkt Perform rating. Canaccord Genuity set a $6.00 target price on shares of ImmunoGen and gave the company a "buy" rating in a report on Saturday, May 6th. They now have a $12.00 price target on the stock, up previously from $5.00.

Morgan Stanley lowered the price target and downgraded the stock on September 21 changing the price objective from $10.00 to $9.00 and moving the rating from "Equal-weight" to "Underweight". One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. Ameriprise Financial Inc. acquired a new position in ImmunoGen during the first quarter valued at approximately $1,528,000. ImmunoGen, Inc. has a one year low of $1.51 and a one year high of $8.04. The stock exchanged hands 3.36 Million shares versus average trading capacity of 2.84 Million shares. The company's market cap is $623.90 million.

ImmunoGen (NASDAQ:IMGN) last released its quarterly earnings results on Friday, May 5th. The company beat the analyst EPS Estimate with the difference of $-0.12. The firm had revenue of $28.70 million for the quarter, compared to the consensus estimate of $16.16 million. Jefferies Group analyst B. Amin now forecasts that the biotechnology company will post earnings of ($0.46) per share for the quarter, down from their previous estimate of ($0.41). Analysts are expecting EPS growth rates to be at 45.60% this quarter and EPS estimate for next year reflect -15.40% growth rate.

WARNING: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and global copyright and trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/07/14/immunogen-inc-nasdaqimgn-cut-to-sell-at-zacks-investment-research.html. Teachers Advisors LLC now owns 209,859 shares of the biotechnology company's stock worth $428,000 after buying an additional 20,171 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of ImmunoGen by 36.2% in the first quarter.

The company surged 1.47% and closed its last trading session at $6.82. Equities analysts predict that ImmunoGen will post ($1.18) earnings per share for the current year. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time. JPMorgan Chase & Co. now owns 187,230 shares of the biotechnology company's stock valued at $725,000 after buying an additional 186,730 shares during the period. The institutional investor owned 93,560 shares of the biotechnology company's stock at the end of the first quarter.

ImmunoGen, Inc., launched on March 27, 1981, is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics.


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