Immunogen, Inc. – Nasdaq: IMGN
Waltham, MA-based Immunogen Inc. shares are up almost 20% in early trading. Shares of the biotechnology firm trade on the Nasdaq under ticker symbol IMGN. On December 28, 2016 Immunogen announced positive aspects of their Phase 1 trial. That news sent shares higher. On December 30 shares gapped up and have not looked back.
ImmunoGen is a recognized leader in the field of ADCs (antibody-drug conjugates) are biopharmaceutical drugs designed as a targeted therapy for the treatment of people with cancer. Immunogen’s technology is used in Roche’s Kadcyla®. Numerous leading healthcare companies have licensed limited rights to use Immunogen’s technology to develop ADC therapies, including Amgen, Genentech/Roche, Lilly, Novartis, Sanofi, and Takeda. Immunogen Inc. continues to invest in the emerging field of ADCs, with 765 issued patents and 749 pending patent applications worldwide as of mid-2016.
Shares of IMGN have never experienced positive EPS. In 2015 IMGN reported a loss of lost $1.67 on sales of $60 million – a drop from reported 2014 sales of $85.5 million. Eight firms follow Immunogen Inc. Two give IMGN a rating of “Strong Buy”; five give it a “Buy”; and one gives it a rating of “sell”. The consensus target price for IMGN is $5.00.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 9:59 AM EST||$2.33|
|Average Volume||1.73 million|
|Market Cap||$140.6 million|
|Shares Outstanding||67.6 million|
|Short Interest Ratio||7.18|