Canaccord Genuity Reaffirms Their Buy Rating on ImmunoGen (IMGN)

By Ryan Adsit

In a report released yesterday, John Newman from Canaccord Genuity maintained a Buy rating on ImmunoGen (IMGNResearch Report), with a price target of $12.00. The company’s shares closed last Monday at $5.65.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 20.6% and a 44.4% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Atara Biotherapeutics.

ImmunoGen has an analyst consensus of Moderate Buy, with a price target consensus of $7.60, implying a 30.1% upside from current levels. In a report issued on October 5, William Blair also reiterated a Buy rating on the stock.

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The company has a one-year high of $7.07 and a one-year low of $1.95. Currently, ImmunoGen has an average volume of 2.53M.

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ImmunoGen, Inc. is a biotechnology company, which engages in discovering and developing antibody-drug conjugate therapies that meaningfully improve the lives of people with cancer. Its product candidates include Mirvetuximab soravtansine, Coltuximab ravtansine, IMGN7779 and IMGN632. The company was founded in March 1981 and is headquartered in Waltham, MA.