Immunogen (IMGN) PT Lifted to $20 at Canaccord Genuity Following IMGN853 ASCO Data

Canaccord Genuity analyst John Newman reiterated a Buy rating and boosted his price target on Immunogen Inc. (NASDAQ: IMGN) to $20.00 (from $15.00) after the company presented data for IMGN853 at ASCO demonstrating a 53% response rate vs. 40% in the initial ASCO abstract, including a Complete Response (CR), a clear positive in their view.

Newman weighed in, "IMGN853 showed 9/17 patients responding, with n=1 Compete Response (6%), n=8 partial Responses (47%), 5 patients with Stable Disease (29%), and three patients with progressive disease (18%). Twenty patients were enrolled as of 4/30/2015, with data presented for n=17, and n=5 still awaiting initial assessment at 6 weeks. The study enrolled Folate Receptor 2+ or higher Epithelial Ovarian Cancer patients who had failed prior platinum therapy, but were not platinum refractory."

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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