Immunogen Earnings: Here’s Why Investors are Buying Shares Now

Immunogen Inc. (NASDAQ:IMGN) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.86%.

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Immunogen Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.24 in the year-earlier quarter.

Revenue: Rose 669.23% to $25 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Immunogen Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.15. It beat the average revenue estimate of $11.94 million.

Quoting Management: “Based on published clinical findings and patient anecdotes, we believe Kadcyla will make a notable difference for many patients and become a highly successful product,” commented Daniel Junius, President and CEO. “The first Kadcyla sales information reported by Roche in its quarterly update support that the product launch is off to a good start. As noted previously, we will be reporting our royalty revenue from Kadcyla one quarter in arrears and thus it will begin to be reported in our next quarter.”

Key Stats (on next page)…

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