UPDATE: Credit Suisse Initiates Immunogen at Neutral on Valuation
Credit Suisse initiated coverage on Immunogen (NASDAQ: IMGN) with a Neutral rating and a $12 price target.
Credit Suisse noted, "We like IMGN for its expected steady cash flow from T-DM1 royalties, its antibody-drug conjugation (ADC) technology, and potential upside from a deep pipeline. However, upside to valuation requires additional drivers for which visibility is currently low."
Immunogen closed at $11.65 on Monday.
Latest Ratings for IMGN
|Jun 2015||Morgan Stanley||Upgrades||Underweight||Equal-weight|
|May 2015||Credit Suisse||Assumes||Neutral|
|Mar 2015||Cantor Fitzgerald||Upgrades||Hold||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.