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)…

Revenue increased 857.85% from $2.61 million in the previous quarter. EPS increased to $-0.02 in the quarter versus EPS of $-0.29 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.17 and has not changed. For the current year, the average estimate has moved down from a loss of $0.91 to a loss of $0.92 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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