Cantor Fitzgerald Downgrades Immunogen Inc. (IMGN) to Hold
Get Alerts IMGN Hot Sheet
Rating Summary:
5 Buy, 17 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 17
Join SI Premium – FREE
Cantor Fitzgerald downgraded Immunogen Inc. (NASDAQ: IMGN) from Buy to Hold with a price target of $21.00 (from $12.00) on valuation.
Analyst Mara Goldstein commented, "We are downgrading ImmunoGen shares to HOLD from BUY, and raising our PT to $21 from $12. Our PT raise reflects greater value for IMGN853, about to enter Phase II, and the remainder of the pipeline. However, we feel that these assets are fairly well represented in our new valuation, and while the shares still have room to advance, the upside is less than what we typically like to see for BUY-rated biotechs. We think there is incremental upside to be had from the pipeline, but major inflection points are not likely, in our view, before 2H:CY16."
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 $18.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- VinFast Auto Ltd. (VFS) PT Lowered to $5 at BTIG
- Travelers (TRV) PT Lowered to $235 at CFRA
- Northcoast Research Downgrades Boeing (BA) to Sell, 'Waiting for the final chapter'
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, DowngradesRelated Entities
Cantor Fitzgerald, Mara GoldsteinSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!