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Fly News Breaks for July 30, 2018
IMGN
Jul 30, 2018 | 07:25 EDT
H.C. Wainwright analyst Debjit Chattopadhyay says ImmunoGen's mirvetuximab soravtansine, or IMGN853, "continues to chug along, almost unnoticed, especially at current levels." ImmunoGen remains well positioned to "significantly expand" its commercial positioning with multiple pivotal programs positioned to move IMGN853 into earlier lines of therapy, Chattopadhyay tells investors in a research note. The analyst awaits the topline readout from the Forward I program during the first half of 2018 and notes that additional data from IMGN853 in combination with Keytruda are expected during the second half of 2018. He rates ImmunoGen as one of his top SMID-cap ideas heading into the readout of the Forward I. The analyst reiterates a Buy rating on the shares with an $18 price target.
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