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Immunogen (IMGN) ASCO Data on IMGN853 'Solidifies' Pipeline Potential, Cantor Fitzgerald Says

May 14, 2015 7:09 AM EDT
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Price: $31.25 --0%

Rating Summary:
    5 Buy, 17 Hold, 2 Sell

Rating Trend: Down Down

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    Up: 0 | Down: 0 | New: 0
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Cantor Fitzgerald analyst Mara Goldstein reiterated a Buy rating and $12 price target on Immunogen Inc. (NASDAQ: IMGN) as IMGN853 data at ASCO "solidifies" the pipeline potential.

Goldstein commented, "We eiterate BUY and a $12 PT, based on our view that the shares are inexpensive, expectations heading into ASCO are modest, and financing risk has diminished. With the release of Phase I data for IMGN853/ASCO abstract yesterday, we continue to believe this to be the case. The company's proprietary pipeline has struggled, but with the sale of Kadcyla royalties, has become the focal point, in our view. We think the IMGN853 data is good enough to warrant revaluing in the shares."

For an analyst ratings summary and ratings history on Immunogen Inc. click here. For more ratings news on Immunogen Inc. click here.

Shares of Immunogen Inc. closed at $9.12 yesterday.



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Cantor Fitzgerald, Mara Goldstein