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ImmunoGen (IMGN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

ImmunoGen (IMGN) reported $113.43 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 637.5%. EPS of $0.10 for the same period compares to -$0.31 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $106.98 million, representing a surprise of +6.02%. The company delivered an EPS surprise of +400.00%, with the consensus EPS estimate being $0.02.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how ImmunoGen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Product revenue, net: $105.16 million compared to the $92.58 million average estimate based on seven analysts.

  • License and milestone fees: $0.05 million versus the seven-analyst average estimate of $12.64 million. The reported number represents a year-over-year change of -99.3%.

  • Non-cash royalty revenue related to the sale of future royalties: $7.36 million versus $6.22 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -8% change.

View all Key Company Metrics for ImmunoGen here>>>

Shares of ImmunoGen have returned +7.5% over the past month versus the Zacks S&P 500 composite's +10.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report

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Zacks Investment Research