ImmunoGen (NASDAQ:IMGN) Posts Wider than Expected Loss in Fiscal Q2; Stock Falls – IMGN, LLY, AMGN, SGEN

ImmunoGen, Inc (NASDAQ:IMGN) announced on Friday wider-than-projected loss for its fiscal Q2 mainly hurt by superior research and development costs.

The biotechnology company that develops anticancer products reported that revenues plunged sharply from previous year on the absence of previous year’s significant milestone payments, and failed to meet analysts’ forecasts.

ImmunoGen announced a net loss of $24.39 million or $0.29 a share for the fiscal Q2 finished December 31, evaluated against earlier year’s net loss of $12.75 million or $0.17 a share.

Thomson Reuters 14 analysts survey on average forecasted the corporation to announce a loss of $0.25 a share.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Eli Lilly & Co. (NYSE:LLY) rose +0.09% to settle at $53.21, Amgen, Inc. (NASDAQ:AMGN) moved up +0.97% to end at $83.42 while Seattle Genetics, Inc. (NASDAQ:SGEN) jumped +2.36% to finish at $30.30 on Friday.

ImmunoGen, Inc. (NASDAQ:IMGN) last session’s volume of 1.46 million shares was higher than its average volume of 778,436 shares. The stock after opening at $15.60 hit high price of $15.70 and then closed at $15.04 by scoring -2.02%.

IMGN generated revenue of $17.91 million in the previous twelve months and earned -$79.03 million. The Company showed a negative -441.20% in the net profit margin as well as in its operating margin which remained at -441.26%. Company’s annual sales growth for the past five years was -15.61%.

The IMGN’s past twelve months’ price to sales ratio was 70.64 and price to cash ratio remained 5.42. As far as the returns are concerned, IMGN’s return on equity was recorded as -56.23% and return on investment decreased -37.35% while its return on asset stayed at -34.99%.

The stock showed weekly downbeat performance of -2.08% which was maintained for the month at 20.13%. Likewise the positive performance for the quarter was recorded as 6.21% and for the year was 15.43% while the YTD performance remained at 17.96%.

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