Immunogen (IMGN) Should Revalue Higher Following IMGN853 ASCO Data, Cantor Fitzgerald Says

Cantor Fitzgerald analyst Mara Goldstein reiterated a Buy rating and $12 price target on Immunogen Inc. (NASDAQ: IMGN) following the IMGN853 ASCO update, which supports the valuation expansion.

Goldstein commented, "IMGN shares should begin to be revalued on the basis of IMGN853 data presented at the American Society of Clinical Oncology Meeting (ASCO). Our BUY rating on the shares is based on our view that IMGN853 data could be a catalyst for valuation upgrade, and this, in addition to reduced financing risk from the sale of Kadcyla royalties, amid modest expectations overall for the company's pipeline, leaves opportunity for upside, in our view"

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 $8.98 yesterday.

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