Before IMGN earnings came out (and we all know IMGN does not have a product on the market), not a peep from the analyst. Now that earnings came out all the analyst act as it was a big surprise and starts slamming IMGN with lots of drama followed by tons of articles published slamming IMGN. GET REAL.... in one month, all the fools that sold because they panicked will be so sorry that they listened to analysts that played on their fears. Now is the time to load up prior to Feb 26th. IMGN will be the only company with a FDA approved TAP technology on the market. I would not be surprised if IMGN will be bought up by Big Pharma with a high premium ($22-$23).
we better hope history does not repeat, because the historic pattern for IMGN is slow and steady up and then down hard and fast. One of the prop indicators in my TC2000 TA system has nailed every top. If any of you use TC 2000 look at TSV length 38 and draw a straight line at 5.0K.
This time we have an approval looming, so maybe it will be diferent, but when the board gets bullish, shorts know people are too long on margin and they crush the stock to force out the weak hands. Will slow and corrupt FDelay come to the rescue with an early approval? It's doubtful, shorts are likely in contact and will know in advance when to cover. I will buy more if IMGN gets to $14, otherwise I am holding what I have. Also holding the calls I sold, buying them back is always a mistake.
Oppenheimer claims that a price target of $14 already takes into account of T-DM1 approval. What a big bunch of SH**. This goes to show how desperate Oppenheimer wants IMGN price to go down so their clients can load up right before T-DM1 approval.
I would love to see what they base their valuation on! The market never did get to UBS $10 target and not dropping to Oppenheimers $14 target. UBS is now quiet as they drove down to $11 and got their shares. So I veiw it as a very bullish sign when these analyst try to get it down and the market doesn't fully respond. Too many opportunities for upside revisions in TDM-1 and Pipeline. I would not want to be out of IMGN any longer since they are a major acquisition target. Look what happened to HGSI with the on slaught of negative analysts. Were acquired by GSK never getting the chance to fully execute on their severe sepsis drug.
Sentiment: Strong Buy
Yeah, analysts are marginal citizens for sure. I laughed when the same one who rated Apple Buy at 700 just rated it Sell at 440. Nobody needs to know what happened yesterday, you need to know what's going to happen next. And I can tell you the FDA has already secretly made the decision to green light the new drug and the announcement will be made jointly by Genentech and Roche in the next 3 weeks. Furthermore I tell you this will be THE BIGGEST DRUG to hit the market in the last 20 years. Herceptin sales run 6Bil per year. This will go $8-10Bil and IMGN gets a high single digit royalty on all of it. What people will come to understand is that this is a life changer for women and breast cancer. Single agent therapy, complete remission. NO CHEMOTHERAPY!. Are you kidding me??????? I have only one thing to quibble with on your post. Your price target is way too low..... God bless ya'll
Sentiment: Strong Buy
Two things: IMGN will get a royalty of between 3% and 5%, depending on sales volume. i wouldn't call that "high single digit." Second, everyone knows that T-DM1 will be approved; the only question has been WHEN? Show me some money, and some unexpected good news, and then we'll see the stock do something.
Quite boisterous comments. This is not a traditional "single agent" therapy, although it is considered a single drug. You have DM1 that is attached to the trastuzumab antibody. What is this "complete remission" claim? That is a great goal but hardly guaranteed. The no chemotherapy comment is laughable. DM1 is a very potent, toxic chemotherapy agent. Make no mistake, this is still chemotherapy but it is targeted, and should result in less side effects. I do like your enthusiasm.
exactly, shorts exit, institutions buy low, only experienced and patient retail owners win if they know and play the biotech game. One day in the next 12-24 months you will turn on your computer and IMGN will be acquired for much more than the current price. Those who keep a core position and trade some shares will win in the long run. Let's hope that Genentech give the launch their best efforts, I am always looking for ways they can screw IMGN shareholders and steal the company. If we get past launch we should run with positive data on the new drugs, but 901 data is something I will hedge because I am not a believer in it. That's a ways off, no need to worry now.