Immunogen (IMGN) PT Raised to $20 at RBC Capital Following Meetings

RBC Capital analyst Simos Simeonidis reiterated an Outperform rating and boosted his price target on Immunogen Inc. (NASDAQ: IMGN) to $20.00 (from $15.00) after spending time on the road with management.

Simeonidis commented, "We hosted a number of investor events on the road with IMGN management, including CFO David Johnston, late last week. IMGN is confidently advancing the development of lead asset mirvetuximab (IMGN853), which will move into single-agent and combination trials in 4Q15. In addition, IMGN is taking the next steps in IMGN529 and coltuximab's (SAR3419) development while also advancing the IGNs, its novel, DNA-acting, payloads. We raise our price target to $20 from $15."

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 $17.41 yesterday.

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