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 3.10%.
Immunogen Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.26 in the quarter versus EPS of $-0.29 in the year-earlier quarter.
Revenue: Rose 29.83% to $3.83 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Immunogen Inc. reported adjusted EPS loss of $0.26 per share. By that measure, the company beat the mean analyst estimate of $-0.3. It beat the average revenue estimate of $3.44 million.
Quoting Management: “We are starting to see the first commercial rewards from our many years of scientific innovation,” commented Daniel Junius, President and CEO. “Kadcyla sales are off to a strong start in the US for its first indication, with many additional approvals expected. It is particularly gratifying to hear from patients about the difference Kadcyla is making for them and their caregivers.”
Key Stats (on next page)…
Revenue decreased 84.68% from $25 million in the previous quarter. EPS increased to $-0.26 in the quarter versus EPS of $-0.02 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 $0.22 and has not changed. For the current year, the average estimate is a loss of $0.93, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)