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Fly News Breaks for March 5, 2019
IMGN
Mar 5, 2019 | 07:43 EDT
As previously reported, Morgan Stanley analyst Matthew Harrison upgraded ImmunoGen to Equal Weight from Underweight after the stock traded down nearly 60% last week following news that the Phase 3 FORWARD I trial testing mirvetuximab soravtansine missed on all endpoints. While he expects ImmunoGen to be skewed higher in the next few weeks as investors assess the potential to negotiate with the FDA to file based on the FRalpha-high cohort alone, Harrison said he has limited hope for such a filing. He has a $3.00 price target on ImmunoGen shares.
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