Jefferies Starts Immunogen Inc. (IMGN) at Buy

Jefferies initiates coverage on Immunogen Inc. (NASDAQ: IMGN) with a Buy rating and $19 price target.

The firm states, "...IMGN and partner Roche are developing trastuzumab-DM1 (T-DM1) in pivotal trials for HER2+ metastatic breast cancer. Based on a robust clinical profile, we believe T-DM1 will eventually become the standard-of-care for this indication, with potential upside in earlier-stage adjuvant use."

In May 2011, Jefferies acted as Sole Book-Running Manager in connection with an equity offering for IMGN.

For more ratings news on Immunogen Inc. click here and for the rating history of Immunogen Inc. click here.

Shares of Immunogen Inc. closed at $12.21 yesterday.

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