William Blair Comments on ImmunoGen, Inc.’s FY2017 Earnings (IMGN)

ImmunoGen, Inc. (NASDAQ:IMGN) – William Blair boosted their FY2017 earnings per share estimates for ImmunoGen in a research note issued on Wednesday. William Blair analyst A. Hsieh now expects that the biotechnology company will earn ($1.00) per share for the year, up from their previous estimate of ($1.01). William Blair also issued estimates for ImmunoGen’s Q4 2017 earnings at ($0.09) EPS, Q1 2018 earnings at ($0.23) EPS, Q2 2018 earnings at ($0.27) EPS, Q3 2018 earnings at ($0.27) EPS, Q4 2018 earnings at ($0.27) EPS, FY2018 earnings at ($1.03) EPS, FY2019 earnings at ($1.13) EPS and FY2020 earnings at ($1.24) EPS.

A number of other brokerages have also recently weighed in on IMGN. Canaccord Genuity restated a “buy” rating and set a $10.00 target price (up from $8.00) on shares of ImmunoGen in a report on Wednesday, August 30th. Cowen restated a “hold” rating on shares of ImmunoGen in a report on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and set a $5.00 target price on shares of ImmunoGen in a report on Monday, September 25th. ValuEngine downgraded shares of ImmunoGen from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. Finally, Leerink Swann restated a “buy” rating on shares of ImmunoGen in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $7.83.

ImmunoGen (NASDAQ:IMGN) traded up $0.49 on Friday, reaching $6.35. 3,191,200 shares of the company traded hands, compared to its average volume of 2,872,182. ImmunoGen has a 52-week low of $1.53 and a 52-week high of $8.84. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of -0.03.

ImmunoGen (NASDAQ:IMGN) last issued its earnings results on Friday, November 3rd. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.42). The firm had revenue of $8.50 million for the quarter, compared to analyst estimates of $26.09 million. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS.

A number of institutional investors have recently added to or reduced their stakes in IMGN. Arrowstreet Capital Limited Partnership bought a new position in ImmunoGen during the 2nd quarter worth approximately $102,000. Gould Asset Management LLC CA bought a new position in ImmunoGen during the 2nd quarter worth approximately $107,000. Intl Fcstone Inc. acquired a new stake in shares of ImmunoGen during the 2nd quarter worth approximately $115,000. Aperio Group LLC grew its position in shares of ImmunoGen by 45.1% during the 2nd quarter. Aperio Group LLC now owns 16,797 shares of the biotechnology company’s stock worth $119,000 after buying an additional 5,221 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ImmunoGen during the 2nd quarter worth approximately $126,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

In other ImmunoGen news, VP Craig Barrows sold 14,600 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through the SEC website. 6.51% of the stock is owned by company insiders.

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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 and Estimates for ImmunoGen (NASDAQ:IMGN)

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