Jefferies Maintains Bullish Stance On Immunogen (IMGN) Following Data

Jefferies reiterated their Buy rating and $19 price target on Immunogen Inc. (NASDAQ: IMGN) after positive updates on EMILIA data and adjuvant plans for T-DM1.

The firm comments, "Robust EMILIA Phase 3 data were presented for T-DM1 vs. Tykerb+Xeloda (3 month PFS benefit and strong OS benefit) in the HER2+ metastatic breast setting following prior Herceptin/taxane, which notably included first-line patients. Separately, Roche announced anticipated plans to advance T-DM1 into adjuvant studies and will study it as a replacement for current Herceptin usage, a positive development in terms of revenue per patient."

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 $13.89 yesterday.

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